Jacobs & Co. CA Has $3.29 Million Stake in Chevron Co. (NYSE:CVX)

Jacobs & Co. CA decreased its stake in Chevron Co. (NYSE:CVX) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,722 shares of the oil and gas company’s stock after selling 687 shares during the quarter. Jacobs & Co. CA’s holdings in Chevron were worth $3,291,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in Chevron in the 3rd quarter valued at $29,000. Rational Advisors LLC acquired a new position in Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the third quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the third quarter worth $31,000. Finally, Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Wells Fargo & Company boosted their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Barclays boosted their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.60.

Chevron Trading Up 1.7 %

Shares of Chevron stock traded up $2.63 during trading hours on Friday, hitting $152.93. The company’s stock had a trading volume of 7,040,015 shares, compared to its average volume of 6,852,600. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $274.83 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The stock has a 50 day moving average of $153.68 and a 200 day moving average of $151.08. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.05 earnings per share. Analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.26%. Chevron’s dividend payout ratio is currently 71.65%.

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.