Chevron Co. (NYSE:CVX) Shares Acquired by Fusion Capital LLC

Fusion Capital LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 2.3% in the fourth quarter, HoldingsChannel reports. The firm owned 6,689 shares of the oil and gas company’s stock after buying an additional 150 shares during the quarter. Fusion Capital LLC’s holdings in Chevron were worth $969,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tacita Capital Inc lifted its holdings in shares of Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares during the last quarter. Wallace Capital Management Inc. boosted its holdings in shares of Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 65 shares during the period. TFB Advisors LLC increased its position in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after acquiring an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. lifted its position in shares of Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after acquiring an additional 66 shares in the last quarter. Finally, S.A. Mason LLC boosted its stake in Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after purchasing an additional 67 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.57 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $281.36 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.46 and a beta of 1.11. The business has a 50-day moving average of $152.83 and a two-hundred day moving average of $151.34. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 period in the prior year, the firm posted $3.45 EPS. On average, equities research analysts predict 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 will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. UBS Group reduced their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In other 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 value 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 document filed with the SEC, which is accessible through this hyperlink. 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.