Millstone Evans Group LLC bought a new stake in Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,392 shares of the oil and gas company's stock, valued at approximately $491,000.
Other hedge funds also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter worth about $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the 3rd quarter worth approximately $30,000. Finally, Fairway Wealth LLC increased its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.
Insiders Place Their Bets
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 sale, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several analysts recently commented on CVX shares. 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 research report on Thursday, December 19th. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of "Moderate Buy" and a consensus price target of $174.13.
Read Our Latest Analysis on Chevron
Chevron Price Performance
Chevron stock traded up $0.91 during trading hours on Tuesday, hitting $165.93. The stock had a trading volume of 7,867,285 shares, compared to its average volume of 7,337,986. The stock has a market capitalization of $292.14 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock's fifty day moving average is $156.49 and its two-hundred day moving average is $152.81.
Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 last year, the business posted $3.45 EPS. As a group, analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.
Chevron Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.12%. Chevron's dividend payout ratio is 70.37%.
Chevron Profile
(
Free Report)
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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