Raleigh Capital Management Inc. Acquires 4,277 Shares of Chevron Co. (NYSE:CVX)

Raleigh Capital Management Inc. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 43.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,177 shares of the oil and gas company’s stock after buying an additional 4,277 shares during the quarter. Chevron accounts for about 0.8% of Raleigh Capital Management Inc.’s holdings, making the stock its 29th biggest holding. Raleigh Capital Management Inc.’s holdings in Chevron were worth $2,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the 3rd quarter worth $31,000. Finally, Krane Funds Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter worth $47,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.3 %

NYSE CVX opened at $155.62 on Friday. The business has a 50 day simple moving average of $153.93 and a 200 day simple moving average of $151.14. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a market capitalization of $279.66 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CVX shares. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial increased their target price on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Raymond James increased their target price on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $175.27.

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.