30,154 Shares in Chevron Co. (NYSE:CVX) Bought by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 30,154 shares of the oil and gas company’s stock, valued at approximately $4,368,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Life Planning Partners Inc purchased a new stake in Chevron during the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the 4th quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in Chevron in the 3rd quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the fourth quarter valued at $29,000. Finally, Fairway Wealth LLC grew its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.1 %

NYSE CVX opened at $166.62 on Thursday. Chevron Co. has a one year low of $135.37 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a 50 day moving average price of $157.63 and a 200-day moving average price of $154.08. The company has a market capitalization of $293.35 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 period in the prior year, the business earned $3.45 earnings per share. As a group, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVX. Wells Fargo & Company decreased their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays decreased their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

About Chevron

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.