Sloy Dahl & Holst LLC Acquires 400 Shares of Chevron Co. (NYSE:CVX)

Sloy Dahl & Holst LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 11.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,952 shares of the oil and gas company’s stock after purchasing an additional 400 shares during the period. Sloy Dahl & Holst LLC’s holdings in Chevron were worth $589,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC raised its position in shares of Chevron by 104,997.3% in the fourth 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 period. Norges Bank bought a new position in shares of Chevron in the fourth quarter valued at approximately $3,058,235,000. Imprint Wealth LLC increased its position in Chevron by 15,457.0% during the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after acquiring an additional 5,343,782 shares during the period. Morgan Stanley increased its position in Chevron by 12.7% during the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after acquiring an additional 3,711,923 shares during the period. Finally, International Assets Investment Management LLC increased its position in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX traded down $1.31 during midday trading on Wednesday, reaching $156.28. 5,541,895 shares of the stock were exchanged, compared to its average volume of 7,275,755. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.54. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a market cap of $290.25 billion, a P/E ratio of 13.76, a PEG ratio of 2.37 and a beta of 1.12. The stock’s 50 day simple moving average is $155.11 and its 200 day simple moving average is $151.83.

Chevron (NYSE:CVX) last posted 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. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the firm earned $4.09 earnings per share. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 13.28 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s payout ratio is 57.39%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVX. 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. Wells Fargo & Company boosted their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Raymond James lifted their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday. Mizuho lifted their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Truist Financial decreased their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.55.

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.