Donoghue Forlines LLC Purchases 2,589 Shares of Chevron Co. (NYSE:CVX)

Donoghue Forlines LLC lifted its position in Chevron Co. (NYSE:CVX) by 34.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,199 shares of the oil and gas company’s stock after acquiring an additional 2,589 shares during the quarter. Donoghue Forlines LLC’s holdings in Chevron were worth $1,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVX. Rational Advisors LLC bought a new stake in shares of Chevron in the third quarter valued at about $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron during the third quarter valued at about $31,000. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Chevron during the third quarter valued at about $47,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CVX. 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 report on Tuesday, November 26th. Raymond James increased their price target on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Finally, Piper Sandler decreased 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 equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $155.62 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company’s 50 day moving average is $153.93 and its 200 day moving average is $151.14. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $279.66 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 EPS. On average, sell-side analysts forecast that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

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 dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.19%. Chevron’s payout ratio is 71.65%.

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.