MV Capital Management Inc. Purchases 253 Shares of Chevron Co. (NYSE:CVX)

MV Capital Management Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 22.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,390 shares of the oil and gas company’s stock after acquiring an additional 253 shares during the period. MV Capital Management Inc.’s holdings in Chevron were worth $201,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allianz SE bought a new stake in Chevron in the fourth quarter worth $9,369,000. Transamerica Financial Advisors Inc. boosted its stake in shares of Chevron by 140.2% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 10,848 shares of the oil and gas company’s stock worth $1,572,000 after purchasing an additional 6,331 shares during the period. Michael A. Dubis Financial Planning LLC bought a new position in Chevron during the 4th quarter valued at about $206,000. Intrust Bank NA lifted its stake in Chevron by 6.6% in the fourth quarter. Intrust Bank NA now owns 36,042 shares of the oil and gas company’s stock worth $5,220,000 after purchasing an additional 2,237 shares during the last quarter. Finally, Biondo Investment Advisors LLC boosted its position in shares of Chevron by 0.4% during the fourth quarter. Biondo Investment Advisors LLC now owns 68,005 shares of the oil and gas company’s stock valued at $9,850,000 after buying an additional 280 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of CVX stock opened at $166.06 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $292.37 billion, a PE ratio of 17.08, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96. The business’s fifty day simple moving average is $157.10 and its 200-day simple moving average is $153.38.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the business earned $3.45 earnings per share. Analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. UBS Group decreased their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.