Rovin Capital UT ADV Purchases 354 Shares of Chevron Co. (NYSE:CVX)

Rovin Capital UT ADV boosted its position in Chevron Co. (NYSE:CVX) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,516 shares of the oil and gas company’s stock after purchasing an additional 354 shares during the quarter. Rovin Capital UT ADV’s holdings in Chevron were worth $364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new stake in shares of Chevron in the 2nd quarter worth approximately $2,398,000. Waterloo Capital L.P. raised its stake in Chevron by 4.1% during the second quarter. Waterloo Capital L.P. now owns 7,542 shares of the oil and gas company’s stock valued at $1,180,000 after buying an additional 300 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Chevron in the second quarter worth $1,335,000. Carolinas Wealth Consulting LLC increased its holdings in shares of Chevron by 12.8% during the second quarter. Carolinas Wealth Consulting LLC now owns 4,038 shares of the oil and gas company’s stock valued at $631,000 after acquiring an additional 459 shares in the last quarter. Finally, Altrius Capital Management Inc boosted its stake in Chevron by 5.3% in the 2nd quarter. Altrius Capital Management Inc now owns 28,192 shares of the oil and gas company’s stock worth $4,410,000 after purchasing an additional 1,421 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’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 transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6 %

NYSE CVX opened at $159.33 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $286.32 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The stock’s 50-day moving average price is $153.79 and its 200-day moving average price is $151.00.

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, beating the consensus estimate of $2.47 by $0.04. The business 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%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.05 earnings per share. On average, equities research analysts predict that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued 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 yield of 4.09%. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Ratings Changes

A number of research firms have recently commented on CVX. Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Royal Bank of Canada lifted their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four equities 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, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.87.

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.