Chevron Co. (NYSE:CVX) Shares Purchased by Norden Group LLC

Norden Group LLC boosted its position in Chevron Co. (NYSE:CVX) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,818 shares of the oil and gas company’s stock after purchasing an additional 1,459 shares during the period. Norden Group LLC’s holdings in Chevron were worth $2,726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Life Planning Partners Inc acquired a new stake in Chevron in the fourth quarter valued at about $25,000. Rational Advisors LLC acquired a new stake in Chevron in the third quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the third quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in Chevron in the third quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Chevron in the third quarter valued at about $31,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup raised shares of 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 report on Tuesday, November 26th. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Truist Financial dropped their target price 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 analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Up 1.2 %

Shares of CVX opened at $158.59 on Friday. The stock has a fifty day moving average of $153.14 and a two-hundred day moving average of $151.49. 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 company has a market capitalization of $279.21 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 period last year, the company earned $3.45 earnings per share. As a group, analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.31%. Chevron’s payout ratio is 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

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.