Chevron Co. (NYSE:CVX) Shares Bought by Sterling Investment Advisors Ltd.

Sterling Investment Advisors Ltd. grew its stake in shares of Chevron Co. (NYSE:CVX) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,186 shares of the oil and gas company’s stock after acquiring an additional 1,875 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Chevron were worth $3,793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Illinois Municipal Retirement Fund lifted its position in shares of Chevron by 22.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 167,687 shares of the oil and gas company’s stock valued at $24,288,000 after acquiring an additional 31,001 shares during the period. Avalon Capital Management lifted its position in shares of Chevron by 28.3% during the 4th quarter. Avalon Capital Management now owns 3,170 shares of the oil and gas company’s stock valued at $459,000 after acquiring an additional 700 shares during the period. Vaughan David Investments LLC IL lifted its position in shares of Chevron by 1.2% during the 4th quarter. Vaughan David Investments LLC IL now owns 325,779 shares of the oil and gas company’s stock valued at $47,186,000 after acquiring an additional 3,796 shares during the period. Processus Wealth & Capital Management LLC raised its position in shares of Chevron by 0.9% during the 4th quarter. Processus Wealth & Capital Management LLC now owns 8,804 shares of the oil and gas company’s stock worth $1,275,000 after purchasing an additional 77 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on 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 in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Up 0.6 %

Shares of Chevron stock opened at $157.85 on Tuesday. The company has a fifty day moving average price of $152.14 and a 200 day moving average price of $151.20. 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 Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market cap of $283.68 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm earned $3.45 EPS. 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 disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.33%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Raymond James cut their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.