Whitener Capital Management Inc. Buys 2,513 Shares of Chevron Co. (NYSE:CVX)

Whitener Capital Management Inc. raised its stake in Chevron Co. (NYSE:CVX) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,569 shares of the oil and gas company’s stock after purchasing an additional 2,513 shares during the period. Chevron accounts for approximately 0.9% of Whitener Capital Management Inc.’s investment portfolio, making the stock its 25th biggest position. Whitener Capital Management Inc.’s holdings in Chevron were worth $3,124,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the 3rd quarter worth approximately $31,000. Finally, Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.4 %

Shares of Chevron stock opened at $161.54 on Friday. The firm’s 50 day moving average is $153.93 and its 200 day moving average is $151.09. The firm has a market capitalization of $290.30 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the business earned $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts forecast that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’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 directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CVX shares. Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, UBS Group increased their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $175.27.

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.