Horan Capital Advisors LLC. Raises Stake in Chevron Co. (NYSE:CVX)

Horan Capital Advisors LLC. grew its stake in shares of Chevron Co. (NYSE:CVX) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,286 shares of the oil and gas company’s stock after purchasing an additional 298 shares during the quarter. Horan Capital Advisors LLC.’s holdings in Chevron were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. ST Germain D J Co. Inc. raised its holdings in Chevron by 2.7% during the third quarter. ST Germain D J Co. Inc. now owns 12,394 shares of the oil and gas company’s stock worth $2,090,000 after purchasing an additional 321 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Chevron by 2.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,216,554 shares of the oil and gas company’s stock valued at $205,135,000 after acquiring an additional 33,318 shares during the period. FAS Wealth Partners Inc. increased its holdings in shares of Chevron by 5.3% in the 3rd quarter. FAS Wealth Partners Inc. now owns 29,893 shares of the oil and gas company’s stock valued at $5,041,000 after acquiring an additional 1,517 shares during the period. Mcdaniel Terry & Co. increased its holdings in shares of Chevron by 38.3% in the 3rd quarter. Mcdaniel Terry & Co. now owns 12,883 shares of the oil and gas company’s stock valued at $2,172,000 after acquiring an additional 3,567 shares during the period. Finally, Sheets Smith Wealth Management increased its holdings in shares of Chevron by 1.7% in the 3rd quarter. Sheets Smith Wealth Management now owns 6,871 shares of the oil and gas company’s stock valued at $1,159,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $160.25 on Friday. The firm has a market capitalization of $297.63 billion, a P/E ratio of 14.74, a PEG ratio of 2.37 and a beta of 1.11. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company’s fifty day moving average is $157.26 and its two-hundred day moving average is $151.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the firm earned $3.55 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Analysts forecast that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. Chevron’s dividend payout ratio is presently 59.98%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. Wells Fargo & Company lifted their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Royal Bank of Canada lifted their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Truist Financial cut their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock 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 price objective on the stock. in a research note on Tuesday, February 6th. Finally, HSBC boosted their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.35.

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.