Sierra Ocean LLC Takes Position in Chevron Co. (NYSE:CVX)

Sierra Ocean LLC bought a new position in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 764 shares of the oil and gas company’s stock, valued at approximately $111,000.

Several other large investors have also recently added to or reduced their stakes in CVX. Stratos Wealth Partners LTD. raised its stake in shares of Chevron by 0.4% in the third quarter. Stratos Wealth Partners LTD. now owns 70,768 shares of the oil and gas company’s stock valued at $10,422,000 after acquiring an additional 261 shares in the last quarter. Seamount Financial Group Inc. raised its position in Chevron by 1.8% in the 3rd quarter. Seamount Financial Group Inc. now owns 6,425 shares of the oil and gas company’s stock valued at $946,000 after purchasing an additional 115 shares in the last quarter. Embree Financial Group raised its position in Chevron by 6.5% in the 3rd quarter. Embree Financial Group now owns 10,503 shares of the oil and gas company’s stock valued at $1,547,000 after purchasing an additional 644 shares in the last quarter. Chicago Capital LLC boosted its stake in shares of Chevron by 3.0% in the 3rd quarter. Chicago Capital LLC now owns 9,733 shares of the oil and gas company’s stock valued at $1,433,000 after buying an additional 279 shares during the period. Finally, Alta Wealth Advisors LLC grew its position in shares of Chevron by 22.9% during the third quarter. Alta Wealth Advisors LLC now owns 3,344 shares of the oil and gas company’s stock worth $492,000 after buying an additional 624 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVX. 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. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade 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 the SEC website. 0.20% of the stock is owned by insiders.

Chevron Trading Down 0.4 %

Shares of Chevron stock opened at $155.32 on Monday. 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 firm has a market cap of $279.12 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company’s 50-day simple moving average is $151.86 and its 200-day simple moving average is $150.80.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 period in the previous year, the company earned $3.45 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. Chevron’s dividend payout ratio (DPR) is 67.08%.

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.