Coombe Bender & Co LLC Invests $170,000 in Chevron Co. (NYSE:CVX)

Coombe Bender & Co LLC acquired a new position in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,138 shares of the oil and gas company’s stock, valued at approximately $170,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new stake in shares of Chevron in the 3rd quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV raised its holdings in 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 purchased a new stake in Chevron in the 4th quarter valued at approximately $33,000. Legacy Financial Group LLC acquired a new position in Chevron during the 3rd quarter worth approximately $43,000. Finally, Roble Belko & Company Inc increased its position in Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock traded up $1.08 during trading hours on Thursday, reaching $160.71. The stock had a trading volume of 3,572,374 shares, compared to its average volume of 8,385,536. The firm has a market capitalization of $298.48 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11. The firm has a 50-day simple moving average of $157.04 and a 200-day simple moving average of $151.74. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the business earned $3.55 earnings per share. Chevron’s revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Piper Sandler lifted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Mizuho upped their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $185.35.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

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.