Steel Grove Capital Advisors LLC Has $2.10 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Steel Grove Capital Advisors LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 141.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,062 shares of the oil and gas company’s stock after purchasing an additional 8,230 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Chevron were worth $2,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Hill Island Financial LLC boosted its stake in shares of Chevron by 21.9% during the 4th quarter. Hill Island Financial LLC now owns 1,528 shares of the oil and gas company’s stock worth $228,000 after acquiring an additional 275 shares in the last quarter. A. D. Beadell Investment Counsel Inc. boosted its position in Chevron by 69.5% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 6,413 shares of the oil and gas company’s stock worth $956,000 after purchasing an additional 2,630 shares during the period. Well Done LLC raised its position in shares of Chevron by 69.9% in the fourth quarter. Well Done LLC now owns 4,048 shares of the oil and gas company’s stock valued at $604,000 after purchasing an additional 1,665 shares during the period. WASHINGTON TRUST Co lifted its stake in shares of Chevron by 11.6% in the fourth quarter. WASHINGTON TRUST Co now owns 13,993 shares of the oil and gas company’s stock worth $2,087,000 after buying an additional 1,458 shares during the last quarter. Finally, LaFleur & Godfrey LLC boosted its holdings in shares of Chevron by 24.4% during the 4th quarter. LaFleur & Godfrey LLC now owns 74,153 shares of the oil and gas company’s stock worth $11,061,000 after buying an additional 14,543 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.1 %

Shares of NYSE CVX traded up $1.75 during mid-day trading on Thursday, hitting $158.10. The company’s stock had a trading volume of 4,536,482 shares, compared to its average volume of 8,712,957. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock has a market cap of $293.63 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The company’s fifty day simple moving average is $151.34 and its 200-day simple moving average is $152.65. Chevron Co. has a one year low of $139.62 and a one year high of $172.88.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.24% and a net margin of 10.63%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.09 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.12%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is currently 57.39%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVX shares. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target on the stock. in a research report on Tuesday, January 16th. Piper Sandler dropped their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Finally, Mizuho boosted their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.39.

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.