Catalyst Funds Management Pty Ltd Increases Holdings in Chevron Co. (NYSE:CVX)

Catalyst Funds Management Pty Ltd boosted its position in Chevron Co. (NYSE:CVX) by 75.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,100 shares of the oil and gas company’s stock after purchasing an additional 9,500 shares during the period. Chevron comprises 0.8% of Catalyst Funds Management Pty Ltd’s investment portfolio, making the stock its 28th biggest position. Catalyst Funds Management Pty Ltd’s holdings in Chevron were worth $3,201,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Wallace Capital Management Inc. lifted its holdings in Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares during the last quarter. TFB Advisors LLC grew its holdings in Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after buying an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. increased its position in Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after buying an additional 66 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after buying an additional 66 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its position in shares of Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after acquiring an additional 67 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly 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 filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVX. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Up 2.3 %

Shares of Chevron stock opened at $157.10 on Friday. The stock has a market capitalization of $276.59 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $155.03 and a 200 day simple moving average of $151.98.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 last year, the business posted $3.45 EPS. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. 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.