Smartleaf Asset Management LLC Has $3.17 Million Position in Chevron Co. (NYSE:CVX)

Smartleaf Asset Management LLC increased its stake in Chevron Co. (NYSE:CVX) by 21.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,187 shares of the oil and gas company’s stock after purchasing an additional 3,915 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Chevron were worth $3,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. State Street Corp lifted its holdings in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after buying an additional 410,460 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Chevron by 3.4% during the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after buying an additional 573,218 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $158.59 on Friday. The stock’s fifty day moving average is $153.14 and its 200-day moving average is $151.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $279.21 billion, a PE ratio of 16.32, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 period last year, the business posted $3.45 EPS. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.31%. Chevron’s dividend payout ratio is presently 70.37%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.13.

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.