Affiance Financial LLC Makes New Investment in Chevron Co. (NYSE:CVX)

Affiance Financial LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,412 shares of the oil and gas company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC purchased a new stake in Chevron in the third quarter worth $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron during the 3rd quarter valued at about $31,000. Finally, Krane Funds Advisors LLC bought a new stake in Chevron during the third quarter worth about $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $155.62 on Monday. The firm has a market capitalization of $279.66 billion, a P/E ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business has a fifty day moving average of $153.81 and a 200 day moving average of $151.14.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVX. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial lifted their price target on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

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.