Monarch Capital Management Inc. Has $2.06 Million Stake in Chevron Co. (NYSE:CVX)

Monarch Capital Management Inc. reduced its position in shares of Chevron Co. (NYSE:CVX) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,236 shares of the oil and gas company’s stock after selling 140 shares during the quarter. Monarch Capital Management Inc.’s holdings in Chevron were worth $2,062,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVX. Riversedge Advisors LLC boosted its position in Chevron by 3.6% during the 4th quarter. Riversedge Advisors LLC now owns 3,850 shares of the oil and gas company’s stock worth $558,000 after acquiring an additional 132 shares during the last quarter. Financial Management Professionals Inc. grew its position in Chevron by 16.7% in the fourth quarter. Financial Management Professionals Inc. now owns 7,514 shares of the oil and gas company’s stock valued at $1,088,000 after purchasing an additional 1,076 shares in the last quarter. TruWealth Advisors LLC increased its stake in Chevron by 1.9% in the 4th quarter. TruWealth Advisors LLC now owns 109,577 shares of the oil and gas company’s stock valued at $15,871,000 after buying an additional 2,030 shares during the last quarter. HB Wealth Management LLC lifted its position in Chevron by 8.9% during the 4th quarter. HB Wealth Management LLC now owns 153,518 shares of the oil and gas company’s stock worth $22,235,000 after buying an additional 12,605 shares in the last quarter. Finally, Financial & Tax Architects LLC boosted its stake in shares of Chevron by 8.1% during the 4th quarter. Financial & Tax Architects LLC now owns 41,920 shares of the oil and gas company’s stock worth $6,072,000 after buying an additional 3,132 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company increased their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $161.54 on Monday. The stock has a fifty day moving average of $153.93 and a 200-day moving average of $151.05. The stock has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

About Chevron

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.