Virtu Financial LLC Takes Position in Chevron Co. (NYSE:CVX)

Virtu Financial LLC bought a new stake in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,963 shares of the oil and gas company's stock, valued at approximately $3,036,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. bought a new stake in Chevron in the fourth quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter worth approximately $29,000. Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Chevron during the 3rd quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the 3rd quarter valued at $31,000. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVX. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. 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 research note on Tuesday, November 26th. Finally, Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $174.13.

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Chevron Trading Up 0.6 %

Shares of Chevron stock traded up $0.91 during trading on Tuesday, reaching $165.93. 7,867,285 shares of the company were exchanged, compared to its average volume of 7,337,986. The business has a 50-day moving average price of $156.49 and a 200-day moving average price of $152.81. The firm has a market capitalization of $292.14 billion, a price-to-earnings ratio of 17.07, a P/E/G 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. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 last year, the business earned $3.45 EPS. Sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.12%. The ex-dividend date was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company's stock.

Chevron 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.