Zhang Financial LLC Grows Position in Chevron Co. (NYSE:CVX)

Zhang Financial LLC lifted its position in Chevron Co. (NYSE:CVX) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,441 shares of the oil and gas company’s stock after purchasing an additional 142 shares during the quarter. Zhang Financial LLC’s holdings in Chevron were worth $513,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron in the third quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter valued at about $33,000. Worth Asset Management LLC purchased a new stake in shares of Chevron in the first quarter valued at about $36,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Chevron in the third quarter valued at about $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Truist Financial dropped their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. Finally, Wells Fargo & Company upped their target price on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $184.75.

Insider Buying and Selling at Chevron

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

Chevron Stock Performance

Shares of CVX opened at $160.00 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market cap of $297.16 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The company’s 50 day simple moving average is $155.44 and its 200-day simple moving average is $151.86. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.38.

Chevron (NYSE:CVX) last announced 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 net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period last year, the firm posted $4.09 earnings per share. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, equities analysts predict that Chevron Co. will post 13.27 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is 57.39%.

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.