Palisade Asset Management LLC Buys 2,821 Shares of Chevron Co. (NYSE:CVX)

Palisade Asset Management LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 3.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 92,111 shares of the oil and gas company’s stock after acquiring an additional 2,821 shares during the period. Chevron comprises 1.5% of Palisade Asset Management LLC’s portfolio, making the stock its 20th biggest holding. Palisade Asset Management LLC’s holdings in Chevron were worth $13,739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Windsor Advisory Group LLC increased its position in shares of Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after buying an additional 720 shares during the period. Renaissance Investment Group LLC increased its position in shares of Chevron by 12.7% during the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares during the period. Altrius Capital Management Inc grew its holdings in shares of Chevron by 2.1% during the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after purchasing an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new position in shares of Chevron during the fourth quarter worth about $254,000. Finally, Kapstone Financial Advisors LLC grew its holdings in shares of Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial cut their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. HSBC boosted their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. UBS Group boosted their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Trading Down 0.1 %

Shares of NYSE:CVX traded down $0.13 during trading on Wednesday, reaching $162.54. 6,615,436 shares of the company traded hands, compared to its average volume of 8,421,499. The firm has a market capitalization of $300.21 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 2.37 and a beta of 1.11. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $157.62 and its 200-day moving average is $151.45.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the firm posted $3.55 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is currently 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.