Eagle Rock Investment Company LLC Has $7.21 Million Holdings in Chevron Co. (NYSE:CVX)

Eagle Rock Investment Company LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,798 shares of the oil and gas company’s stock after acquiring an additional 2,714 shares during the period. Chevron makes up approximately 1.2% of Eagle Rock Investment Company LLC’s investment portfolio, making the stock its 22nd largest holding. Eagle Rock Investment Company LLC’s holdings in Chevron were worth $7,213,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rational Advisors LLC bought a new stake in shares of Chevron during the third quarter worth $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron in the 3rd quarter worth $29,000. Darwin Wealth Management LLC bought a new position in Chevron during the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

NYSE:CVX opened at $161.54 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market capitalization of $290.30 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. The stock’s 50 day moving average price is $153.84 and its two-hundred day moving average price is $151.06. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Raymond James lifted their price objective on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $175.27.

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.