2,534 Shares in Chevron Co. (NYSE:CVX) Acquired by Clune & Associates LTD.

Clune & Associates LTD. bought a new position in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,534 shares of the oil and gas company’s stock, valued at approximately $367,000.

A number of other institutional investors have also made changes to their positions in CVX. Life Planning Partners Inc bought a new stake in Chevron in the 4th quarter valued at $25,000. IMG Wealth Management Inc. bought a new stake in Chevron in the 4th quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the 3rd quarter valued at $29,000. Fairway Wealth LLC boosted its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Finally, RPg Family Wealth Advisory LLC bought a new stake in Chevron in the 3rd quarter valued at $31,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Raymond James cut their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Barclays cut their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Price Performance

Shares of CVX opened at $164.37 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business has a 50-day simple moving average of $156.29 and a two-hundred day simple moving average of $152.64. 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 stock has a market cap of $289.39 billion, a PE ratio of 16.91, a PEG ratio of 1.46 and a beta of 1.08.

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 last year, the firm posted $3.45 earnings per share. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In other 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 value of $1,422,062.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Company 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.