Royal Fund Management LLC Has $2.89 Million Stake in Chevron Co. (NYSE:CVX)

Royal Fund Management LLC grew its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 390.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,946 shares of the oil and gas company's stock after acquiring an additional 15,878 shares during the quarter. Royal Fund Management LLC's holdings in Chevron were worth $2,890,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Marietta Wealth Management LLC grew its stake in Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company's stock valued at $5,962,000 after purchasing an additional 3,965 shares in the last quarter. Leo Wealth LLC grew its stake in shares of Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company's stock valued at $1,214,000 after buying an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. RPG Investment Advisory LLC increased its holdings in Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company's stock worth $17,844,000 after buying an additional 3,933 shares during the last quarter. Finally, State Street Corp raised its position in Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock worth $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Raymond James increased their price target on Chevron from $175.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and increased their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a "buy" rating and a $168.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $175.27.

Chevron Trading Down 1.2 %

Shares of CVX stock traded down $1.85 during mid-day trading on Wednesday, reaching $156.39. 7,230,699 shares of the stock traded hands, compared to its average volume of 8,002,224. The stock's fifty day simple moving average is $154.09 and its two-hundred day simple moving average is $151.07. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. 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 has a market cap of $281.05 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.12.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.05 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

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

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

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.