West Paces Advisors Inc. Increases Stock Position in Chevron Co. (NYSE:CVX)

West Paces Advisors Inc. increased its position in Chevron Co. (NYSE:CVX) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,568 shares of the oil and gas company’s stock after acquiring an additional 214 shares during the period. Chevron comprises approximately 0.5% of West Paces Advisors Inc.’s holdings, making the stock its 28th largest position. West Paces Advisors Inc.’s holdings in Chevron were worth $1,725,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CVX. Moneta Group Investment Advisors LLC raised its stake in Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the last quarter. Norges Bank purchased a new stake in Chevron during the 4th quarter valued at $3,058,235,000. Imprint Wealth LLC raised its stake in Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after buying an additional 5,343,782 shares during the last quarter. Morgan Stanley raised its stake in Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Chevron by 15,548.2% during the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.8 %

CVX opened at $156.28 on Wednesday. The firm has a 50-day simple moving average of $155.11 and a two-hundred day simple moving average of $151.83. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.54. The company has a market capitalization of $290.25 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the firm earned $4.09 EPS. The business’s revenue was down 16.5% on a year-over-year basis. Analysts forecast that Chevron Co. will post 13.28 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, January 8th. Mizuho upped their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Raymond James upped their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group upped their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, Piper Sandler reduced their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $183.55.

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.