Sprott Inc. Acquires Shares of 2,985 Chevron Co. (NYSE:CVX)

Sprott Inc. bought a new position in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,985 shares of the oil and gas company’s stock, valued at approximately $432,000.

Other hedge funds also recently made changes to their positions in the company. Life Planning Partners Inc bought a new stake in Chevron during the fourth quarter worth about $25,000. Rational Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the third quarter valued at approximately $31,000. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CVX shares. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Price Performance

CVX stock opened at $154.99 on Thursday. The company has a market capitalization of $278.53 billion, a P/E ratio of 15.95, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a fifty day moving average price of $152.52 and a 200-day moving average price of $151.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business posted $3.45 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

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.