Brentview Investment Management LLC Invests $5.63 Million in Chevron Co. (NYSE:CVX)

Brentview Investment Management LLC purchased a new position in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 38,833 shares of the oil and gas company’s stock, valued at approximately $5,625,000. Chevron comprises about 3.2% of Brentview Investment Management LLC’s investment portfolio, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rational Advisors LLC acquired a new position in Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron during the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the third quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter worth about $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

NYSE CVX opened at $149.39 on Tuesday. 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 52-week low of $135.37 and a 52-week high of $167.11. The business has a 50 day simple moving average of $153.19 and a 200 day simple moving average of $151.02. The stock has a market cap of $268.46 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.29 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business earned $3.45 EPS. Analysts anticipate that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CVX shares. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial lifted their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.60.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

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.