SlateStone Wealth LLC Has $8.37 Million Position in Chevron Co. (NYSE:CVX)

SlateStone Wealth LLC increased its position in Chevron Co. (NYSE:CVX) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,107 shares of the oil and gas company’s stock after buying an additional 2,941 shares during the quarter. Chevron accounts for approximately 1.1% of SlateStone Wealth LLC’s investment portfolio, making the stock its 22nd largest position. SlateStone Wealth LLC’s holdings in Chevron were worth $8,369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Marks Group Wealth Management Inc grew its position in shares of Chevron by 5.4% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,083 shares of the oil and gas company’s stock worth $311,000 after buying an additional 106 shares during the period. Stockman Wealth Management Inc. lifted its holdings in shares of Chevron by 2.6% in the 4th quarter. Stockman Wealth Management Inc. now owns 56,803 shares of the oil and gas company’s stock worth $8,473,000 after purchasing an additional 1,429 shares in the last quarter. Roble Belko & Company Inc lifted its holdings in shares of Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Chevron by 13.6% in the 4th quarter. Larson Financial Group LLC now owns 4,891 shares of the oil and gas company’s stock worth $730,000 after purchasing an additional 585 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Chevron by 4.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 181,875 shares of the oil and gas company’s stock worth $27,128,000 after purchasing an additional 7,406 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.4 %

Shares of NYSE:CVX opened at $162.12 on Wednesday. The stock has a market capitalization of $301.10 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.38 and a beta of 1.12. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The company has a 50 day moving average price of $155.88 and a 200 day moving average price of $151.66.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the business posted $4.09 EPS. The company’s revenue was down 16.5% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given 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 yield of 4.02%. Chevron’s dividend payout ratio is presently 57.39%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’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 transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CVX. Mizuho raised their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Royal Bank of Canada raised their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, Truist Financial decreased their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $184.75.

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.