Chevron Co. (NYSE:CVX) Shares Purchased by KLCM Advisors Inc.

KLCM Advisors Inc. grew its stake in shares of Chevron Co. (NYSE:CVX) by 34.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,776 shares of the oil and gas company’s stock after acquiring an additional 6,029 shares during the period. KLCM Advisors Inc.’s holdings in Chevron were worth $3,546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Rakuten Securities Inc. bought a new position in Chevron during the 4th quarter worth approximately $192,000. Guidance Capital Inc. raised its position in shares of Chevron by 2.2% during the 4th quarter. Guidance Capital Inc. now owns 4,159 shares of the oil and gas company’s stock valued at $622,000 after acquiring an additional 91 shares in the last quarter. Elite Wealth Management Inc. lifted its stake in Chevron by 26.8% during the fourth quarter. Elite Wealth Management Inc. now owns 4,737 shares of the oil and gas company’s stock worth $707,000 after purchasing an additional 1,000 shares during the last quarter. Quantum Private Wealth LLC boosted its holdings in Chevron by 7.1% in the fourth quarter. Quantum Private Wealth LLC now owns 3,771 shares of the oil and gas company’s stock worth $562,000 after purchasing an additional 250 shares during the period. Finally, TRUE Private Wealth Advisors increased its stake in Chevron by 11.2% during the fourth quarter. TRUE Private Wealth Advisors now owns 39,695 shares of the oil and gas company’s stock valued at $5,921,000 after purchasing an additional 4,007 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CVX shares. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Monday, January 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Truist Financial cut their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Finally, Piper Sandler decreased their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $183.55.

Chevron Price Performance

CVX opened at $156.38 on Thursday. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.39. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $290.44 billion, a P/E ratio of 13.77, a PEG ratio of 2.30 and a beta of 1.12. The stock has a fifty day moving average of $155.19 and a 200-day moving average of $151.86.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the company earned $4.09 earnings per share. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 13.56 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s payout ratio is presently 57.39%.

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.