Richard C. Young & CO. LTD. Has $14.76 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Richard C. Young & CO. LTD. boosted its holdings in Chevron Co. (NYSE:CVX) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,910 shares of the oil and gas company’s stock after acquiring an additional 826 shares during the quarter. Chevron accounts for about 1.6% of Richard C. Young & CO. LTD.’s investment portfolio, making the stock its 28th biggest position. Richard C. Young & CO. LTD.’s holdings in Chevron were worth $14,761,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Watts Gwilliam & Co. LLC bought a new stake in Chevron during the third quarter worth about $600,000. Private Advisory Group LLC bought a new stake in Chevron during the 3rd quarter worth approximately $247,000. Ferguson Shapiro LLC increased its holdings in Chevron by 9.9% during the 3rd quarter. Ferguson Shapiro LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after purchasing an additional 268 shares in the last quarter. Walker Financial Services Inc. raised its position in Chevron by 11.6% in the 3rd quarter. Walker Financial Services Inc. now owns 2,053 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 213 shares during the last quarter. Finally, Juncture Wealth Strategies LLC grew its holdings in shares of Chevron by 42.8% during the third quarter. Juncture Wealth Strategies LLC now owns 2,503 shares of the oil and gas company’s stock worth $369,000 after purchasing an additional 750 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $152.54 on Friday. The stock has a market cap of $274.13 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The stock has a 50-day moving average of $152.21 and a 200-day moving average of $150.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company posted $3.45 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.48%. Chevron’s payout ratio is currently 67.08%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Piper Sandler lowered their price target 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. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 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 at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.