Hopwood Financial Services Inc. Invests $326,000 in Chevron Co. (NYSE:CVX)

Hopwood Financial Services Inc. bought a new stake in Chevron Co. (NYSE:CVX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,248 shares of the oil and gas company's stock, valued at approximately $326,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Legacy Investment Solutions LLC acquired a new position in Chevron in the third quarter valued at $29,000. Fairway Wealth LLC lifted its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the third quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of NYSE:CVX opened at $153.94 on Wednesday. The company has a market capitalization of $271.02 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company's 50-day moving average is $154.55 and its 200 day moving average is $151.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

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Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the business posted $3.45 EPS. On average, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. 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 dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio (DPR) is 70.37%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of 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 reduced their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Four research 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $174.13.

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.

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