1,864 Shares in Chevron Co. (NYSE:CVX) Purchased by Hidden Cove Wealth Management LLC

Hidden Cove Wealth Management LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,864 shares of the oil and gas company’s stock, valued at approximately $270,000.

Several other hedge funds also recently modified their holdings of CVX. Van ECK Associates Corp boosted its position in shares of Chevron by 12.3% during the 4th quarter. Van ECK Associates Corp now owns 718,848 shares of the oil and gas company’s stock valued at $104,118,000 after purchasing an additional 78,602 shares in the last quarter. Retirement Guys Formula LLC boosted its holdings in Chevron by 2.1% during the fourth quarter. Retirement Guys Formula LLC now owns 5,729 shares of the oil and gas company’s stock worth $830,000 after buying an additional 116 shares in the last quarter. Avion Wealth grew its position in Chevron by 13.1% in the fourth quarter. Avion Wealth now owns 4,088 shares of the oil and gas company’s stock worth $592,000 after buying an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Chevron by 18.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 263,872 shares of the oil and gas company’s stock valued at $38,712,000 after buying an additional 40,311 shares in the last quarter. Finally, Kentucky Trust Co acquired a new stake in shares of Chevron during the 4th quarter valued at $2,790,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 1.6 %

Chevron stock opened at $154.91 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 12 month low of $135.37 and a 12 month high of $167.11. The company’s fifty day simple moving average is $151.99 and its 200-day simple moving average is $150.81. The stock has a market cap of $278.39 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.39 and a beta of 1.11.

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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business posted $3.45 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. Chevron’s dividend payout ratio is currently 67.08%.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, 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 filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Finally, Raymond James reduced their price target on shares of 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.