Southland Equity Partners LLC Buys 2,180 Shares of Chevron Co. (NYSE:CVX)

Southland Equity Partners LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 13.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,160 shares of the oil and gas company’s stock after purchasing an additional 2,180 shares during the quarter. Southland Equity Partners LLC’s holdings in Chevron were worth $2,630,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Rational Advisors LLC purchased a new stake in shares of Chevron during the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the 3rd quarter worth $31,000. Finally, Krane Funds Advisors LLC purchased a new position in shares of Chevron in the third quarter valued at about $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $155.62 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s 50-day simple moving average is $153.81 and its two-hundred day simple moving average is $151.15. The stock has a market cap of $279.66 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.37 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 (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.05 EPS. Analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.19%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Raymond James upped their price objective on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

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.