Horizon Investments LLC Acquires 1,000 Shares of Chevron Co. (NYSE:CVX)

Horizon Investments LLC raised its stake in Chevron Co. (NYSE:CVX) by 2.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 37,650 shares of the oil and gas company’s stock after buying an additional 1,000 shares during the period. Horizon Investments LLC’s holdings in Chevron were worth $5,453,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Carlson Capital Management lifted its stake in Chevron by 6.6% in the fourth quarter. Carlson Capital Management now owns 3,350 shares of the oil and gas company’s stock worth $485,000 after acquiring an additional 206 shares during the period. Custos Family Office LLC bought a new position in shares of Chevron during the 4th quarter worth approximately $244,000. PDS Planning Inc lifted its position in Chevron by 9.9% during the fourth quarter. PDS Planning Inc now owns 9,605 shares of the oil and gas company’s stock valued at $1,391,000 after acquiring an additional 868 shares during the last quarter. Mystic Asset Management Inc. boosted its stake in Chevron by 13.7% in the fourth quarter. Mystic Asset Management Inc. now owns 22,622 shares of the oil and gas company’s stock valued at $3,277,000 after acquiring an additional 2,727 shares in the last quarter. Finally, Leelyn Smith LLC grew its holdings in Chevron by 2.0% in the fourth quarter. Leelyn Smith LLC now owns 16,557 shares of the oil and gas company’s stock worth $2,398,000 after purchasing an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CVX shares. Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Raymond James cut their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on 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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $158.69 on Tuesday. 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 business’s 50 day moving average price is $155.26 and its 200 day moving average price is $152.14. The company has a market cap of $279.38 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 last year, the firm posted $3.45 EPS. On average, research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.