First Business Financial Services Inc. Buys 508 Shares of Chevron Co. (NYSE:CVX)

First Business Financial Services Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,629 shares of the oil and gas company’s stock after acquiring an additional 508 shares during the quarter. First Business Financial Services Inc.’s holdings in Chevron were worth $815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Pettinga Financial Advisors LLC boosted its position in shares of Chevron by 10.1% during the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 272 shares during the last quarter. Cary Street Partners Asset Management LLC boosted its position in shares of Chevron by 2.6% during the third quarter. Cary Street Partners Asset Management LLC now owns 3,421 shares of the oil and gas company’s stock worth $504,000 after acquiring an additional 87 shares during the last quarter. HF Advisory Group LLC raised its stake in Chevron by 9.6% during the third quarter. HF Advisory Group LLC now owns 4,342 shares of the oil and gas company’s stock valued at $639,000 after purchasing an additional 380 shares in the last quarter. Balentine LLC raised its stake in Chevron by 61.2% during the third quarter. Balentine LLC now owns 8,801 shares of the oil and gas company’s stock valued at $1,296,000 after purchasing an additional 3,340 shares in the last quarter. Finally, Long Run Wealth Advisors LLC raised its stake in Chevron by 16.4% during the third quarter. Long Run Wealth Advisors LLC now owns 3,303 shares of the oil and gas company’s stock valued at $486,000 after purchasing an additional 465 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.7 %

Shares of CVX opened at $150.93 on Thursday. The company has a market cap of $265.73 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company’s fifty day simple moving average is $153.65 and its 200-day simple moving average is $151.61. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company posted $3.45 earnings per share. As a group, analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price target 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 investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.