Verum Partners LLC Has $394,000 Holdings in Chevron Co. (NYSE:CVX)

Verum Partners LLC grew its holdings in Chevron Co. (NYSE:CVX) by 15.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,723 shares of the oil and gas company’s stock after purchasing an additional 362 shares during the period. Verum Partners LLC’s holdings in Chevron were worth $394,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rational Advisors LLC bought a new position in shares of Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the third quarter valued at $31,000. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron in the third quarter valued at $47,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company lifted their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Royal Bank of Canada boosted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Four 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 stock has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Price Performance

Shares of Chevron stock opened at $156.39 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 company has a 50-day simple moving average of $154.09 and a two-hundred day simple moving average of $151.07. The stock has a market capitalization of $281.05 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 EPS. Analysts forecast that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.