Clifford Swan Investment Counsel LLC Purchases 303 Shares of Chevron Co. (NYSE:CVX)

Clifford Swan Investment Counsel LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 0.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 334,151 shares of the oil and gas company’s stock after acquiring an additional 303 shares during the period. Chevron comprises 1.9% of Clifford Swan Investment Counsel LLC’s investment portfolio, making the stock its 8th biggest holding. Clifford Swan Investment Counsel LLC’s holdings in Chevron were worth $49,842,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Chevron by 15,548.2% during the 4th 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 buying an additional 3,181,946 shares during the last quarter. Morgan Stanley lifted its stake in Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Chevron in the third quarter valued at approximately $348,789,000. Envestnet Asset Management Inc. increased its stake in Chevron by 36.4% in the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock valued at $778,097,000 after purchasing an additional 1,230,619 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Chevron by 28.3% during the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock worth $704,822,000 after purchasing an additional 923,119 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. HSBC raised their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Barclays initiated coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Wells Fargo & Company raised their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Truist Financial reduced their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Stock Performance

NYSE CVX traded down $0.48 during trading hours on Friday, hitting $160.25. 11,664,505 shares of the stock were exchanged, compared to its average volume of 7,516,580. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The stock has a 50-day moving average of $157.26 and a 200 day moving average of $151.53. The company has a market cap of $297.63 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the business posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. Chevron’s payout ratio is currently 59.98%.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.