Vision Financial Markets LLC Invests $390,000 in Chevron Co. (NYSE:CVX)

Vision Financial Markets LLC purchased a new position in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,695 shares of the oil and gas company’s stock, valued at approximately $390,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arizona State Retirement System increased its holdings in Chevron by 0.5% in the fourth quarter. Arizona State Retirement System now owns 504,410 shares of the oil and gas company’s stock valued at $73,059,000 after purchasing an additional 2,409 shares during the period. Verdence Capital Advisors LLC grew its holdings in Chevron by 21.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 30,336 shares of the oil and gas company’s stock worth $4,394,000 after acquiring an additional 5,364 shares during the period. Vantage Financial Partners LLC acquired a new stake in Chevron during the 4th quarter worth about $279,000. Proficio Capital Partners LLC grew its holdings in Chevron by 59.5% during the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company’s stock worth $847,000 after acquiring an additional 2,182 shares during the period. Finally, SPC Financial Inc. grew its holdings in Chevron by 16.4% during the 4th quarter. SPC Financial Inc. now owns 6,372 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 896 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $150.93 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $265.73 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s 50-day simple moving average is $153.65 and its 200 day simple moving average is $151.61.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the business posted $3.45 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.53%. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Buying and Selling at Chevron

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Truist Financial decreased 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. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, UBS Group cut their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.