Dale Q Rice Investment Management Ltd Takes $594,000 Position in Chevron Co. (NYSE:CVX)

Dale Q Rice Investment Management Ltd acquired a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, Holdings Channel reports. The fund acquired 4,104 shares of the oil and gas company’s stock, valued at approximately $594,000.

Other hedge funds also recently added to or reduced their stakes in the company. PSI Advisors LLC lifted its stake in shares of Chevron by 1.6% in the 4th quarter. PSI Advisors LLC now owns 13,155 shares of the oil and gas company’s stock valued at $1,905,000 after purchasing an additional 209 shares during the last quarter. Traveka Wealth LLC acquired a new position in Chevron in the fourth quarter valued at about $371,000. Unique Wealth LLC boosted its stake in Chevron by 38.1% during the fourth quarter. Unique Wealth LLC now owns 2,209 shares of the oil and gas company’s stock worth $320,000 after buying an additional 610 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Chevron during the fourth quarter valued at about $1,835,000. Finally, BCS Wealth Management purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $748,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Chevron stock opened at $155.07 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $153.71 and a 200-day simple moving average of $150.94. The stock has a market cap of $278.67 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the previous year, the business earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.20%. Chevron’s dividend payout ratio is currently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Wells Fargo & Company lifted their target price on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. DZ Bank upgraded 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. Finally, Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.87.

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.