Sanctuary Advisors LLC Increases Stake in Chevron Co. (NYSE:CVX)

Sanctuary Advisors LLC has increased its investment in Chevron Co. (NYSE:CVX) by 1.0% during the third quarter, as noted in its latest filing with the SEC. After acquiring an additional 3,729 shares during this period, the fund now holds a total of 394,768 shares of the oil and gas giant, valued at approximately $64,094,000.

Recent Institutional Activities

Other institutional investors have also recently adjusted their positions with Chevron. For example, Rational Advisors LLC acquired an investment in Chevron, worth about $29,000, while Legacy Investment Solutions LLC made a similar purchase valued at approximately $29,000 during the same quarter. Darwin Wealth Management LLC added new shares worth about $30,000, while RPg Family Wealth Advisory LLC purchased shares for around $31,000. Furthermore, Anfield Capital Management LLC significantly increased its holdings by 118.0% during the previous quarter, now owning 218 shares valued at $34,000. Overall, institutional investors control 72.42% of Chevron's shares.

Current Stock Performance

Chevron's shares opened at $156.21 on Thursday. The company has a fifty-day moving average of $155.22 and a 200-day moving average of $152.44. Its debt-to-equity ratio stands at 0.13, while the current ratio and quick ratio are 1.07 and 0.80, respectively. Chevron boasts a market capitalization of $280.72 billion, a PE ratio of 17.17, and a beta value of 1.10. Over the past year, Chevron's stock has seen a low of $135.37 and a high of $167.11.

Financial Results and Dividend

Chevron reported its earnings on November 1st, announcing earnings per share (EPS) of $2.51, surpassing analyst estimates of $2.47 by $0.04. The company's revenue for the quarter amounted to $50.67 billion, exceeding predictions of $48.86 billion. Chevron's net margin is recorded at 8.44%, with a return on equity of 13.15%. However, year-over-year revenue was down by 6.3%, with last year’s EPS at $3.05. Analysts project an EPS of 10.54 for the current year.

Moreover, Chevron recently declared a quarterly dividend, which shareholders received on December 10th. The dividend was set at $1.63 per share, translating into an annualized dividend of $6.52 and a yield of 4.17%. The ex-dividend date was November 18th, and the company's current payout ratio is 71.65%.

Analyst Insights

Several analysts have recently commented on Chevron. Wells Fargo & Company raised their price target on Chevron shares from $171.00 to $188.00, maintaining an "overweight" rating. DZ Bank upgraded Chevron from a "hold" to a "buy" rating with a price target of $170.00. Bank of America initiated coverage with a "buy" rating and a $168.00 target. UBS Group adjusted their target price upwards from $194.00 to $195.00, awarding a "buy" rating. Truist Financial increased their price expectation from $155.00 to $160.00, giving it a "hold" rating. Presently, four analysts have rated the stock as holding, while fourteen analysts have issued buy ratings, leading to a consensus rating of "Moderate Buy" with an average target price of $177.13.

Insider Selling Activity

In recent insider news, CEO Michael K. Wirth sold 164,600 shares of Chevron on November 14th at an average price of $160.13, totaling $26,357,398. After this transaction, Wirth retains ownership of 4,280 shares valued at approximately $685,356, representing a 97.47% decrease in his position. This sale was disclosed in a filing with the SEC.

Chevron Overview

Chevron Corporation operates through its subsidiaries, focusing on integrated energy and chemical operations both domestically and internationally. The company operates in distinct segments: Upstream and Downstream. The Upstream segment is involved in activities such as exploring, developing, producing, and transporting crude oil and natural gas, whereas the Downstream segment is engaged in refining, marketing, and distributing petroleum products.

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