Versor Investments LP Makes New Investment in Chevron Co. (NYSE:CVX)

Versor Investments LP bought a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,195 shares of the oil and gas company’s stock, valued at approximately $2,346,000. Chevron accounts for approximately 0.4% of Versor Investments LP’s investment portfolio, making the stock its 29th largest holding.

Several other large investors have also modified their holdings of the stock. Heritage Oak Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter worth $210,000. Motiv8 Investments LLC increased its stake in shares of Chevron by 47.1% during the fourth quarter. Motiv8 Investments LLC now owns 9,165 shares of the oil and gas company’s stock worth $1,328,000 after acquiring an additional 2,935 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Chevron by 22,996.9% during the fourth quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company’s stock worth $122,741,000 after acquiring an additional 843,756 shares during the period. WT Wealth Management acquired a new position in Chevron during the 4th quarter worth approximately $259,000. Finally, Flynn Zito Capital Management LLC raised its stake in shares of Chevron by 7.8% during the 4th quarter. Flynn Zito Capital Management LLC now owns 3,123 shares of the oil and gas company’s stock worth $452,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.9 %

NYSE CVX opened at $154.99 on Thursday. 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 Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business has a 50 day moving average price of $152.52 and a two-hundred day moving average price of $151.31. The stock has a market cap of $278.53 billion, a PE ratio of 15.95, a P/E/G ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the company posted $3.45 EPS. As a group, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared 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 4.41%. Chevron’s payout ratio is 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.