Mountain Hill Investment Partners Corp. Invests $3.95 Million in Chevron Co. (NYSE:CVX)

Mountain Hill Investment Partners Corp. acquired a new stake in Chevron Co. (NYSE:CVX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 27,250 shares of the oil and gas company's stock, valued at approximately $3,947,000. Chevron makes up about 4.0% of Mountain Hill Investment Partners Corp.'s holdings, making the stock its 12th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new position in Chevron in the 4th quarter worth about $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $29,000. Fairway Wealth LLC boosted its position in Chevron by 75.9% during the 4th 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. Finally, RPg Family Wealth Advisory LLC bought a new stake in Chevron during the 3rd quarter worth approximately $31,000. Institutional investors own 72.42% of the company's stock.

Chevron Stock Down 0.7 %

Shares of CVX traded down $1.24 during trading hours on Thursday, reaching $166.73. The stock had a trading volume of 6,855,592 shares, compared to its average volume of 7,354,966. The firm has a 50-day simple moving average of $156.87 and a 200 day simple moving average of $153.11. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $293.54 billion, a price-to-earnings ratio of 17.15, 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 issued its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm earned $3.45 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.10%. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron's payout ratio is currently 70.37%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CVX shares. Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Finally, Barclays dropped their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of "Moderate Buy" and an average price target of $174.13.

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.