Prospect Financial Group LLC Buys New Shares in Chevron Co. (NYSE:CVX)

Prospect Financial Group LLC acquired a new stake in Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,648 shares of the oil and gas company's stock, valued at approximately $239,000.

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

Chevron Trading Up 0.6 %

Shares of CVX traded up $0.91 during trading hours on Tuesday, reaching $165.93. 7,867,285 shares of the company traded hands, compared to its average volume of 7,343,123. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a market capitalization of $292.14 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company's fifty day moving average price is $156.67 and its two-hundred day moving average price is $153.01.

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Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the firm posted $3.45 earnings per share. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date 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 dividend yield of 4.12%. Chevron's payout ratio is currently 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred 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 approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, Citigroup raised Chevron from a "neutral" rating to a "buy" rating and upped their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $174.13.

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.