Chevron Co. (NYSE:CVX) Shares Acquired by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP increased its holdings in shares of Chevron Co. (NYSE:CVX) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,263 shares of the oil and gas company’s stock after purchasing an additional 2,580 shares during the period. Klingenstein Fields & Co. LP’s holdings in Chevron were worth $8,691,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI boosted its position in Chevron by 14.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 65,333 shares of the oil and gas company’s stock valued at $9,745,000 after buying an additional 8,160 shares during the last quarter. PSI Advisors LLC boosted its position in Chevron by 7.2% in the 4th quarter. PSI Advisors LLC now owns 11,845 shares of the oil and gas company’s stock valued at $1,767,000 after buying an additional 795 shares during the last quarter. Cetera Trust Company N.A purchased a new position in Chevron in the 4th quarter valued at about $1,099,000. Ramsay Stattman Vela & Price Inc. lifted its position in shares of Chevron by 15.2% during the fourth quarter. Ramsay Stattman Vela & Price Inc. now owns 20,923 shares of the oil and gas company’s stock worth $3,121,000 after purchasing an additional 2,766 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Chevron by 13.2% during the fourth quarter. CWM LLC now owns 243,516 shares of the oil and gas company’s stock worth $36,323,000 after purchasing an additional 28,448 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial reduced their price target 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. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada increased their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $184.75.

Insider Buying and Selling

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

Chevron Trading Up 1.5 %

Shares of CVX traded up $2.43 on Friday, reaching $160.00. 7,734,654 shares of the company’s stock were exchanged, compared to its average volume of 6,934,255. The stock has a market capitalization of $297.16 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12. The business has a 50 day moving average price of $155.44 and a two-hundred day moving average price of $151.75. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.38.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.09 earnings per share. Research analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.08%. Chevron’s dividend payout ratio is presently 57.39%.

Chevron 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.