Spurstone Advisory Services LLC Purchases Shares of 2,020 Chevron Co. (NYSE:CVX)

Spurstone Advisory Services LLC acquired a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,020 shares of the oil and gas company’s stock, valued at approximately $293,000. Chevron comprises 5.6% of Spurstone Advisory Services LLC’s portfolio, making the stock its 5th biggest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Allianz SE acquired a new position in Chevron during the 4th quarter worth about $9,369,000. Nicholas Company Inc. lifted its position in shares of Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after purchasing an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC boosted its stake in shares of Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock valued at $26,044,000 after purchasing an additional 2,755 shares during the period. Cerity Partners LLC increased its stake in Chevron by 4.5% during the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock worth $174,817,000 after buying an additional 52,307 shares during the period. Finally, Wedbush Securities Inc. increased its stake in Chevron by 6.8% during the 4th quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company’s stock worth $17,101,000 after buying an additional 7,557 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CVX shares. Redburn Atlantic restated a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Raymond James reduced 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. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Performance

NYSE CVX opened at $142.04 on Monday. The company has a fifty day moving average of $146.65 and a two-hundred day moving average of $151.81. The company has a market capitalization of $248.06 billion, a PE ratio of 14.61, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.93 EPS. As a group, analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.82%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Chevron 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.