Private Portfolio Partners LLC Purchases 1,042 Shares of Chevron Co. (NYSE:CVX)

Private Portfolio Partners LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,514 shares of the oil and gas company’s stock after buying an additional 1,042 shares during the quarter. Private Portfolio Partners LLC’s holdings in Chevron were worth $2,537,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RFG Bristol Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at $1,090,000. Potomac Fund Management Inc. ADV acquired a new stake in shares of Chevron in the fourth quarter valued at about $1,291,000. Trexquant Investment LP bought a new stake in Chevron during the fourth quarter worth about $21,737,000. Centric Wealth Management boosted its position in Chevron by 133.8% during the fourth quarter. Centric Wealth Management now owns 16,242 shares of the oil and gas company’s stock valued at $2,353,000 after purchasing an additional 9,296 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Chevron in the fourth quarter valued at approximately $8,224,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $168.43 on Wednesday. Chevron Co. has a one year low of $135.37 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $296.53 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.46 and a beta of 1.08. The stock’s fifty day moving average price is $157.43 and its two-hundred day moving average price is $154.00.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the business earned $3.45 EPS. On average, equities 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 was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.06%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVX. Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. UBS Group cut their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Chevron presently has an average 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.