IFG Advisory LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

IFG Advisory LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,115 shares of the oil and gas company’s stock after purchasing an additional 346 shares during the period. IFG Advisory LLC’s holdings in Chevron were worth $1,807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in CVX. Moneta Group Investment Advisors LLC grew its stake in Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after purchasing an additional 24,467,521 shares during the last quarter. Norges Bank purchased a new stake in Chevron during the 4th quarter valued at about $3,058,235,000. Imprint Wealth LLC grew its stake in Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after purchasing an additional 5,343,782 shares during the last quarter. Morgan Stanley grew its stake in Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after purchasing an additional 3,711,923 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Chevron by 570.0% during the 4th quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock valued at $504,913,000 after purchasing an additional 2,393,200 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.7 %

Shares of NYSE CVX opened at $156.36 on Thursday. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The stock has a market capitalization of $290.40 billion, a PE ratio of 13.76, a PEG ratio of 2.38 and a beta of 1.12. 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 stock has a fifty day simple moving average of $151.34 and a 200-day simple moving average of $152.65.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the previous year, the firm posted $4.09 EPS. Chevron’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CVX shares. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Tuesday, February 6th. Royal Bank of Canada increased their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Piper Sandler decreased their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Monday, January 8th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $180.39.

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.