Lbmc Investment Advisors LLC Boosts Holdings in Chevron Co. (NYSE:CVX)

Lbmc Investment Advisors LLC lifted its stake in Chevron Co. (NYSE:CVX) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,842 shares of the oil and gas company’s stock after buying an additional 200 shares during the period. Lbmc Investment Advisors LLC’s holdings in Chevron were worth $846,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Liberty One Investment Management LLC grew its position in shares of Chevron by 9.0% in the 4th quarter. Liberty One Investment Management LLC now owns 27,570 shares of the oil and gas company’s stock valued at $3,993,000 after buying an additional 2,265 shares during the last quarter. Kelly Financial Services LLC grew its position in shares of Chevron by 11.7% in the 4th quarter. Kelly Financial Services LLC now owns 2,959 shares of the oil and gas company’s stock valued at $429,000 after buying an additional 311 shares during the last quarter. Clarius Group LLC grew its position in shares of Chevron by 7.2% in the 4th quarter. Clarius Group LLC now owns 12,939 shares of the oil and gas company’s stock valued at $1,874,000 after buying an additional 868 shares during the last quarter. Aaron Wealth Advisors LLC grew its position in shares of Chevron by 22.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 8,860 shares of the oil and gas company’s stock valued at $1,283,000 after buying an additional 1,609 shares during the last quarter. Finally, Riversedge Advisors LLC grew its position in Chevron by 3.6% during the 4th quarter. Riversedge Advisors LLC now owns 3,850 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 132 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group raised their price objective on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada raised their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $161.54 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $290.30 billion, a P/E ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The company has a 50-day moving average of $153.93 and a two-hundred day moving average of $151.05. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

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

Chevron Announces Dividend

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

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.