Brentview Investment Management LLC Takes $5.63 Million Position in Chevron Co. (NYSE:CVX)

Brentview Investment Management LLC bought a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 38,833 shares of the oil and gas company’s stock, valued at approximately $5,625,000. Chevron makes up about 3.2% of Brentview Investment Management LLC’s investment portfolio, making the stock its 7th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Czech National Bank raised its holdings in shares of Chevron by 6.1% during the third quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock valued at $51,028,000 after acquiring an additional 19,878 shares during the period. Azzad Asset Management Inc. ADV raised its stake in Chevron by 3.2% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 30,489 shares of the oil and gas company’s stock valued at $4,490,000 after purchasing an additional 942 shares during the period. Smith Anglin Financial LLC lifted its holdings in shares of Chevron by 4.5% in the third quarter. Smith Anglin Financial LLC now owns 6,384 shares of the oil and gas company’s stock valued at $940,000 after purchasing an additional 275 shares in the last quarter. Chemistry Wealth Management LLC boosted its position in shares of Chevron by 17.7% in the third quarter. Chemistry Wealth Management LLC now owns 4,144 shares of the oil and gas company’s stock worth $610,000 after buying an additional 622 shares during the period. Finally, Miracle Mile Advisors LLC raised its position in Chevron by 1.4% during the third quarter. Miracle Mile Advisors LLC now owns 26,703 shares of the oil and gas company’s stock valued at $3,933,000 after buying an additional 372 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.1 %

NYSE:CVX opened at $149.39 on Tuesday. The company’s 50 day moving average is $153.19 and its 200-day moving average is $151.02. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a market cap of $268.46 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.29 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business posted $3.45 EPS. Equities analysts anticipate that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday. Piper Sandler lowered their price objective 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. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Truist Financial boosted their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.60.

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.