Lincoln National Corp Has $12.38 Million Position in Chevron Co. (NYSE:CVX)

Lincoln National Corp raised its position in shares of 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 (SEC). The firm owned 82,986 shares of the oil and gas company’s stock after acquiring an additional 3,457 shares during the period. Lincoln National Corp’s holdings in Chevron were worth $12,378,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new stake in shares of Chevron during the third quarter worth $26,000. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in 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 last quarter. Valued Wealth Advisors LLC bought a new position in Chevron during the 4th quarter worth approximately $33,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $43,000. 72.42% of the stock is owned by institutional investors.

Insider Activity at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,247 shares of company stock worth $2,154,164. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE CVX traded up $0.37 during trading hours on Tuesday, reaching $162.67. 6,718,377 shares of the company were exchanged, compared to its average volume of 8,464,016. The stock has a market capitalization of $300.45 billion, a P/E ratio of 14.93, a P/E/G ratio of 2.37 and a beta of 1.11. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The business’s 50 day simple moving average is $157.41 and its 200-day simple moving average is $151.48.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the firm posted $3.55 EPS. Chevron’s revenue was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVX. HSBC lifted their price target 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. Wells Fargo & Company increased their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Mizuho lifted their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.35.

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.