Edgestream Partners L.P. Takes $1.77 Million Position in Chevron Co. (NYSE:CVX)

Edgestream Partners L.P. acquired a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,214 shares of the oil and gas company’s stock, valued at approximately $1,769,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Life Planning Partners Inc purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron during the third quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter worth approximately $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $157.67 on Tuesday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The business’s fifty day simple moving average is $154.37 and its 200-day simple moving average is $151.86. The firm has a market cap of $277.59 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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 period last year, the business posted $3.45 earnings per share. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Analyst Ratings Changes

Several brokerages recently commented on CVX. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target 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.