Root Financial Partners LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Root Financial Partners LLC increased its position in Chevron Co. (NYSE:CVX) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,773 shares of the oil and gas company’s stock after purchasing an additional 97 shares during the quarter. Root Financial Partners LLC’s holdings in Chevron were worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Chevron by 0.3% during the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after purchasing an additional 458,080 shares during the period. Morgan Stanley increased its holdings in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after acquiring an additional 2,244,995 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after acquiring an additional 24,467,521 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after acquiring an additional 368,898 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after acquiring an additional 569,850 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX stock opened at $159.28 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market cap of $295.83 billion, a P/E ratio of 13.99, a P/E/G ratio of 2.40 and a beta of 1.12. The firm has a 50 day simple moving average of $154.92 and a 200 day simple moving average of $152.01. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.54.

Chevron (NYSE:CVX) last posted its quarterly 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. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period last year, the company posted $4.09 earnings per share. Research analysts anticipate that Chevron Co. will post 13.24 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVX shares. Truist Financial decreased their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Royal Bank of Canada increased 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. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $170.00 to $195.00 in a research report on Thursday. 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. Finally, TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.60.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron 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 completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.