Clarus Group Inc. Purchases 1,833 Shares of Chevron Co. (NYSE:CVX)

Clarus Group Inc. lifted its position in Chevron Co. (NYSE:CVX) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,165 shares of the oil and gas company’s stock after buying an additional 1,833 shares during the quarter. Chevron comprises 3.0% of Clarus Group Inc.’s investment portfolio, making the stock its 11th largest holding. Clarus Group Inc.’s holdings in Chevron were worth $3,903,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares during the period. Norges Bank bought a new stake in Chevron during the fourth quarter worth approximately $3,058,235,000. Imprint Wealth LLC boosted its position in Chevron by 15,457.0% during the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after purchasing an additional 5,343,782 shares during the period. Morgan Stanley boosted its position in shares of Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after acquiring an additional 3,711,923 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after acquiring an additional 3,181,946 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $158.96 on Friday. The business’s 50-day simple moving average is $154.92 and its 200 day simple moving average is $152.25. The stock has a market cap of $295.23 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.88. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter last year, the business earned $4.09 earnings per share. The company’s revenue was down 16.5% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 13.24 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.10%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is 57.39%.

Analysts Set New Price Targets

A number of brokerages recently commented on CVX. Truist Financial cut their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $170.00 to $195.00 in a research note on Thursday. Finally, TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $183.60.

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.