Martin Worley Group Takes Position in Chevron Co. (NYSE:CVX)

Martin Worley Group bought a new position in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,399 shares of the oil and gas company’s stock, valued at approximately $492,000.

Several other institutional investors have also modified their holdings of the business. Disciplined Investors L.L.C. bought a new stake in Chevron in the fourth quarter valued at about $236,000. OneAscent Financial Services LLC lifted its stake in Chevron by 39.8% during the fourth quarter. OneAscent Financial Services LLC now owns 5,551 shares of the oil and gas company’s stock worth $804,000 after purchasing an additional 1,580 shares during the last quarter. Cinctive Capital Management LP bought a new position in Chevron during the fourth quarter worth $4,368,000. Bryce Point Capital LLC bought a new stake in Chevron during the fourth quarter valued at $851,000. Finally, Private Portfolio Partners LLC raised its holdings in shares of Chevron by 6.3% during the fourth quarter. Private Portfolio Partners LLC now owns 17,514 shares of the oil and gas company’s stock worth $2,537,000 after purchasing an additional 1,042 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the 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 transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Down 1.1 %

Chevron stock opened at $166.62 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $293.35 billion, a PE ratio of 17.14, a P/E/G ratio of 1.46 and a beta of 1.08. The firm’s 50 day moving average price is $157.63 and its two-hundred day moving average price is $154.08.

Chevron (NYSE:CVX) last posted 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 quarter last year, the company earned $3.45 earnings per share. On average, 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 was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.11%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

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.