Chevron Co. (NYSE:CVX) Shares Acquired by SCP Investment LP

SCP Investment LP increased its stake in shares of Chevron Co. (NYSE:CVX) by 55.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,800 shares of the oil and gas company’s stock after purchasing an additional 1,000 shares during the quarter. SCP Investment LP’s holdings in Chevron were worth $406,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Life Planning Partners Inc purchased a new stake in shares of Chevron during the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron during the 4th quarter worth $29,000. Finally, Fairway Wealth LLC lifted its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of CVX opened at $166.06 on Friday. The stock has a market capitalization of $292.37 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08. 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 Co. has a 1 year low of $135.37 and a 1 year high of $168.96. The company’s fifty day moving average is $157.10 and its two-hundred day moving average is $153.49.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm earned $3.45 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Analysts Set New Price Targets

A number of analysts have issued reports on CVX shares. Wells Fargo & Company decreased their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target 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.