Guyasuta Investment Advisors Inc. Boosts Holdings in Chevron Co. (NYSE:CVX)

Guyasuta Investment Advisors Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 216,593 shares of the oil and gas company’s stock after acquiring an additional 3,603 shares during the period. Chevron accounts for 2.3% of Guyasuta Investment Advisors Inc.’s holdings, making the stock its 14th biggest position. Guyasuta Investment Advisors Inc.’s holdings in Chevron were worth $32,307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings 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 worth $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. Morgan Stanley raised its holdings in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Chevron during the third quarter worth $348,789,000. Envestnet Asset Management Inc. lifted its position in Chevron by 36.4% during the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock valued at $778,097,000 after purchasing an additional 1,230,619 shares during the period. Finally, California Public Employees Retirement System lifted its position in Chevron by 28.3% during the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock valued at $704,822,000 after purchasing an additional 923,119 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVX. UBS Group boosted their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Royal Bank of Canada boosted their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Monday, January 8th. Mizuho lifted their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $185.25.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE CVX traded up $0.81 during trading hours on Monday, hitting $166.70. 3,261,611 shares of the company’s stock traded hands, compared to its average volume of 8,415,352. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company has a market capitalization of $309.61 billion, a PE ratio of 15.35, a PEG ratio of 2.44 and a beta of 1.12. The firm’s 50-day moving average is $156.58 and its 200-day moving average is $151.66. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. Chevron’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.55 EPS. Equities analysts forecast that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 3.91%. Chevron’s payout ratio is 59.98%.

About Chevron

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.