Purkiss Capital Advisors LLC Invests $469,000 in Chevron Co. (NYSE:CVX)

Purkiss Capital Advisors LLC purchased a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,241 shares of the oil and gas company’s stock, valued at approximately $469,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PCG Asset Management LLC acquired a new position in Chevron in the 4th quarter valued at $583,000. Duncker Streett & Co. Inc. increased its stake in shares of Chevron by 0.7% during the fourth quarter. Duncker Streett & Co. Inc. now owns 21,451 shares of the oil and gas company’s stock worth $3,107,000 after acquiring an additional 146 shares during the period. Sharkey Howes & Javer raised its holdings in Chevron by 78.0% during the fourth quarter. Sharkey Howes & Javer now owns 2,482 shares of the oil and gas company’s stock worth $360,000 after purchasing an additional 1,088 shares in the last quarter. Capital Wealth Planning LLC lifted its position in Chevron by 6.2% in the fourth quarter. Capital Wealth Planning LLC now owns 2,189,879 shares of the oil and gas company’s stock valued at $317,182,000 after purchasing an additional 128,218 shares during the period. Finally, Onefund LLC increased its position in Chevron by 2.6% during the 4th quarter. Onefund LLC now owns 4,585 shares of the oil and gas company’s stock worth $664,000 after purchasing an additional 117 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $158.59 on Friday. 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 50-day moving average of $153.14 and a two-hundred day moving average of $151.49. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market cap of $279.21 billion, a P/E ratio of 16.32, a PEG ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 period last year, the firm earned $3.45 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s payout ratio is 70.37%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, UBS Group decreased their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four investment 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 target price of $174.13.

Chevron Company 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.