Quantessence Capital LLC Invests $5.33 Million in Chevron Co. (NYSE:CVX)

Quantessence Capital LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 36,793 shares of the oil and gas company's stock, valued at approximately $5,329,000. Chevron makes up about 2.2% of Quantessence Capital LLC's investment portfolio, making the stock its 8th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Life Planning Partners Inc purchased a new position in shares of Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter worth about $29,000. Fairway Wealth LLC grew its holdings in Chevron by 75.9% during 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 last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter worth about $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 3.0 %

NYSE:CVX opened at $133.75 on Tuesday. The firm has a 50 day moving average of $153.12 and a 200 day moving average of $153.33. 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 Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market capitalization of $235.48 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.46 and a beta of 0.93.

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 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 period in the previous year, the company earned $3.45 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is currently 70.37%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Finally, Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Chevron has an average rating of "Moderate Buy" and an average price target of $169.50.

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.

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