Parthenon LLC Has $1.70 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Parthenon LLC raised its stake in Chevron Co. (NYSE:CVX) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,701 shares of the oil and gas company’s stock after buying an additional 150 shares during the period. Parthenon LLC’s holdings in Chevron were worth $1,695,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in Chevron by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock valued at $32,924,000 after purchasing an additional 27,483 shares during the last quarter. Xcel Wealth Management LLC boosted its position in Chevron by 3.3% during the 3rd quarter. Xcel Wealth Management LLC now owns 4,048 shares of the oil and gas company’s stock worth $596,000 after buying an additional 131 shares during the period. Eastern Bank grew its holdings in Chevron by 82.2% during the 3rd quarter. Eastern Bank now owns 256,979 shares of the oil and gas company’s stock worth $37,845,000 after acquiring an additional 115,927 shares during the last quarter. Pegasus Asset Management Inc. increased its position in Chevron by 0.6% in the 3rd quarter. Pegasus Asset Management Inc. now owns 28,829 shares of the oil and gas company’s stock valued at $4,246,000 after acquiring an additional 169 shares during the period. Finally, Hofer & Associates. Inc raised its stake in shares of Chevron by 9.1% during the third quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 138 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the 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 sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James cut their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. UBS Group lowered their price target 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. Finally, Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Performance

Shares of CVX opened at $157.14 on Thursday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market cap of $282.39 billion, a PE ratio of 16.17, a P/E/G ratio of 1.43 and a beta of 1.11. The stock has a 50-day moving average of $151.82 and a 200-day moving average of $150.85. 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 data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 period in the prior year, the company posted $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.35%. Chevron’s dividend payout ratio is presently 70.37%.

Chevron 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.