Orca Wealth Management LLC Buys New Shares in Chevron Co. (NYSE:CVX)

Orca Wealth Management LLC bought a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,245 shares of the oil and gas company's stock, valued at approximately $2,063,000. Chevron accounts for approximately 1.9% of Orca Wealth Management LLC's portfolio, making the stock its 16th biggest holding.

Other hedge funds also recently modified their holdings of the company. Rational Advisors LLC bought a new position in shares of Chevron in the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the third quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron during the third quarter worth about $31,000. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron in the third quarter worth about $47,000. Institutional investors own 72.42% of the company's stock.

Chevron Stock Up 0.3 %

NYSE:CVX traded up $0.50 during trading hours on Thursday, reaching $156.19. The company had a trading volume of 6,924,269 shares, compared to its average volume of 7,585,947. The business's 50-day simple moving average is $153.56 and its two-hundred day simple moving average is $151.16. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market cap of $280.68 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.05 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. Chevron's dividend payout ratio is presently 71.65%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. Raymond James upped their price objective on shares of Chevron from $175.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. Wells Fargo & Company boosted their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a "buy" rating and a $168.00 price target for the company. Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Finally, Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.27.

Chevron Company 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.