denkapparat Operations GmbH Takes $421,000 Position in Chevron Co. (NYSE:CVX)

denkapparat Operations GmbH acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, HoldingsChannel reports. The firm acquired 2,910 shares of the oil and gas company’s stock, valued at approximately $421,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its stake in Chevron by 1.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 995,798 shares of the oil and gas company’s stock valued at $144,231,000 after purchasing an additional 12,910 shares in the last quarter. Broadway Wealth Solutions Inc. acquired a new stake in Chevron during the 4th quarter valued at $396,000. New Age Alpha Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter valued at $5,590,000. Providence Capital Advisors LLC boosted its stake in shares of Chevron by 1.6% during the 4th quarter. Providence Capital Advisors LLC now owns 24,447 shares of the oil and gas company’s stock worth $3,541,000 after purchasing an additional 375 shares during the last quarter. Finally, Weik Capital Management lifted its stake in shares of Chevron by 1.2% during the fourth quarter. Weik Capital Management now owns 13,810 shares of the oil and gas company’s stock valued at $2,000,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $166.73 on Friday. The business’s 50-day moving average price is $157.01 and its 200 day moving average price is $153.21. The firm has a market cap of $293.54 billion, a P/E ratio of 17.15, a PEG ratio of 1.46 and a beta of 1.08. 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 52-week low of $135.37 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly 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 quarter in the previous year, the business earned $3.45 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.10%. Chevron’s dividend payout ratio is presently 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on 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 price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

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.