Clune & Associates LTD. Invests $367,000 in Chevron Co. (NYSE:CVX)

Clune & Associates LTD. purchased a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,534 shares of the oil and gas company's stock, valued at approximately $367,000.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Chevron during the 4th quarter valued at $1,036,302,000. Bank of New York Mellon Corp increased its position in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the last quarter. Amundi increased its position in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the last quarter. State Street Corp lifted its position in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock worth $23,431,429,000 after buying an additional 874,962 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in shares of Chevron by 22,996.9% during the 4th quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company's stock worth $122,741,000 after acquiring an additional 843,756 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

NYSE CVX traded up $0.91 during trading on Tuesday, reaching $165.93. 7,802,948 shares of the company traded hands, compared to its average volume of 7,337,986. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock's 50 day moving average price is $156.49 and its two-hundred day moving average price is $152.81. The company has a market cap of $292.14 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.46 and a beta of 1.08.

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Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the firm earned $3.45 earnings per share. As a group, analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. Chevron's payout ratio is 70.37%.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Raymond James cut their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. UBS Group reduced their price objective on Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and an average price target of $174.13.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company's stock.

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.