4,311 Shares in Chevron Co. (NYSE:CVX) Bought by Opinicus Capital Inc.

Opinicus Capital Inc. bought a new position in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, HoldingsChannel reports. The fund bought 4,311 shares of the oil and gas company’s stock, valued at approximately $643,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Picton Mahoney Asset Management acquired a new position in shares of Chevron during the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV grew its stake in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth $33,000. Legacy Financial Group LLC acquired a new position in Chevron in the third quarter valued at $43,000. Finally, Roble Belko & Company Inc boosted its stake in Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

NYSE CVX traded up $0.61 during trading hours on Friday, hitting $165.89. 9,736,350 shares of the stock were exchanged, compared to its average volume of 7,082,480. The company has a market cap of $308.10 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The stock has a 50-day moving average of $156.58 and a 200 day moving average of $151.83. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.55 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 3.93%. Chevron’s dividend payout ratio is currently 57.39%.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Raymond James upped their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $184.75.

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.