Berry Wealth Group LP Purchases New Position in Chevron Co. (NYSE:CVX)

Berry Wealth Group LP purchased a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,333 shares of the oil and gas company’s stock, valued at approximately $348,000.

Several other hedge funds have also bought and sold shares of CVX. Global Wealth Management Investment Advisory Inc. boosted its holdings in Chevron by 14.9% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 41,578 shares of the oil and gas company’s stock worth $6,202,000 after buying an additional 5,402 shares in the last quarter. Cannell & Co. raised its holdings in Chevron by 48.9% in the 4th quarter. Cannell & Co. now owns 223,256 shares of the oil and gas company’s stock worth $33,301,000 after purchasing an additional 73,306 shares during the period. Brandywine Oak Private Wealth LLC boosted its position in Chevron by 4.0% during the fourth quarter. Brandywine Oak Private Wealth LLC now owns 7,804 shares of the oil and gas company’s stock worth $1,164,000 after purchasing an additional 297 shares in the last quarter. PYA Waltman Capital LLC grew its holdings in Chevron by 11.0% in the fourth quarter. PYA Waltman Capital LLC now owns 12,630 shares of the oil and gas company’s stock valued at $1,884,000 after purchasing an additional 1,256 shares during the period. Finally, Fiducient Advisors LLC increased its position in shares of Chevron by 103.9% in the fourth quarter. Fiducient Advisors LLC now owns 2,737 shares of the oil and gas company’s stock valued at $408,000 after buying an additional 1,395 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research analyst reports. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Barclays initiated coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. TD Cowen raised their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday. Finally, HSBC boosted their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Trading Down 1.0 %

NYSE:CVX traded down $1.62 on Wednesday, hitting $159.65. The stock had a trading volume of 2,945,853 shares, compared to its average volume of 8,383,524. The company has a fifty day moving average price of $156.96 and a two-hundred day moving average price of $151.68. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $296.51 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.43 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.55 earnings per share. Equities research analysts expect that Chevron Co. will post 13.71 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm 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 dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

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.