2,618 Shares in Chevron Co. (NYSE:CVX) Bought by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. bought a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,618 shares of the oil and gas company’s stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. Picton Mahoney Asset Management bought a new stake in shares of Chevron during the third quarter valued at approximately $26,000. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV lifted its position in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter worth $33,000. Finally, Legacy Financial Group LLC purchased a new position in Chevron during the 3rd quarter valued at about $43,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX traded down $0.13 on Wednesday, hitting $162.54. The company’s stock had a trading volume of 6,684,371 shares, compared to its average volume of 8,445,723. The company has a 50 day moving average price of $157.62 and a 200 day moving average price of $151.45. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a market capitalization of $300.21 billion, a PE ratio of 14.94, a PEG ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.55 earnings per share. On average, research analysts anticipate that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.01%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction 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 Securities & Exchange Commission, which is accessible through the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares in the company, valued at $1,231,167. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,247 shares of company stock valued at $2,154,164. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Truist Financial reduced their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Barclays began coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Piper Sandler lifted their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Wells Fargo & Company boosted their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

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.