Dempze Nancy E Increases Stock Position in Chevron Co. (NYSE:CVX)

Dempze Nancy E increased its stake in shares of Chevron Co. (NYSE:CVX) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 9,355 shares of the oil and gas company’s stock after buying an additional 258 shares during the period. Dempze Nancy E’s holdings in Chevron were worth $1,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. United Bank boosted its position in Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Chevron in the third quarter worth approximately $2,370,000. Texas Capital Bank Wealth Management Services Inc grew its position in Chevron by 87.7% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 5,708 shares of the oil and gas company’s stock valued at $841,000 after buying an additional 2,667 shares during the period. Two Sigma Advisers LP raised its position in Chevron by 1,202.3% in the third quarter. Two Sigma Advisers LP now owns 245,563 shares of the oil and gas company’s stock worth $36,164,000 after acquiring an additional 226,707 shares during the period. Finally, Wills Financial Group Inc. boosted its stake in shares of Chevron by 5.0% during the 3rd quarter. Wills Financial Group Inc. now owns 38,004 shares of the oil and gas company’s stock worth $5,597,000 after acquiring an additional 1,817 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $143.10 on Friday. The company has a market cap of $251.95 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $168.96. The stock’s 50 day simple moving average is $157.38 and its two-hundred day simple moving average is $154.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company posted $3.45 EPS. As a group, equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.78%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CVX shares. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Finally, Barclays decreased their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.