West Oak Capital LLC Increases Stake in Chevron Co. (NYSE:CVX)

West Oak Capital LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,083 shares of the oil and gas company’s stock after acquiring an additional 140 shares during the quarter. Chevron makes up 1.2% of West Oak Capital LLC’s portfolio, making the stock its 20th largest holding. West Oak Capital LLC’s holdings in Chevron were worth $2,852,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Vanguard Group Inc. raised its position in shares of Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares during the period. Berkshire Hathaway Inc lifted its position in shares of Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Morgan Stanley lifted its position in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after acquiring an additional 1,999,332 shares during the period. Finally, Norges Bank purchased a new stake in shares of Chevron during the fourth quarter worth about $2,902,007,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.1 %

Shares of NYSE CVX opened at $156.75 on Wednesday. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company has a market cap of $288.89 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10. The business’s 50 day moving average price is $159.11 and its 200-day moving average price is $154.82.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.55 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.16%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Raymond James upped their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Mizuho boosted their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Truist Financial raised their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Finally, Wells Fargo & Company boosted their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now owns 27,725 shares in the company, valued at $4,581,279. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock worth $2,727,971 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Chevron 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.