Pekin Hardy Strauss Inc. Boosts Holdings in Chevron Co. (NYSE:CVX)

Pekin Hardy Strauss Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 38,561 shares of the oil and gas company’s stock after buying an additional 2,700 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Chevron were worth $5,585,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Howard Capital Management Inc. increased its holdings in Chevron by 3.2% during the fourth quarter. Howard Capital Management Inc. now owns 19,075 shares of the oil and gas company’s stock worth $2,763,000 after buying an additional 598 shares during the last quarter. Integral Investment Advisors Inc. increased its holdings in Chevron by 4.0% during the fourth quarter. Integral Investment Advisors Inc. now owns 14,457 shares of the oil and gas company’s stock worth $2,094,000 after buying an additional 560 shares during the last quarter. Theory Financial LLC increased its holdings in Chevron by 10.7% during the fourth quarter. Theory Financial LLC now owns 2,077 shares of the oil and gas company’s stock worth $301,000 after buying an additional 200 shares during the last quarter. Tradewinds Capital Management LLC increased its holdings in Chevron by 390.3% during the fourth quarter. Tradewinds Capital Management LLC now owns 2,628 shares of the oil and gas company’s stock worth $381,000 after buying an additional 2,092 shares during the last quarter. Finally, TCW Group Inc. increased its stake in shares of Chevron by 132.8% in the fourth quarter. TCW Group Inc. now owns 150,138 shares of the oil and gas company’s stock worth $21,746,000 after purchasing an additional 85,643 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent research reports. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Truist Financial reduced their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Down 1.2 %

Chevron stock opened at $156.92 on Friday. The stock has a market cap of $282.00 billion, a P/E ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s fifty day moving average price is $151.97 and its 200-day moving average price is $151.05. 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 released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 prior year, the firm posted $3.45 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction 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 transaction, the vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

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.