GAMMA Investing LLC Invests $1.41 Million in Chevron Co. (NYSE:CVX)

GAMMA Investing LLC bought a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 9,564 shares of the oil and gas company’s stock, valued at approximately $1,410,000.

A number of other large investors have also recently made changes to their positions in the business. Windsor Advisory Group LLC grew its holdings in Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares during the last quarter. Renaissance Investment Group LLC boosted its position in Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares during the period. Altrius Capital Management Inc boosted its position in Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares during the period. Camelot Portfolios LLC purchased a new stake in Chevron in the 4th quarter valued at about $254,000. Finally, Strategic Financial Concepts LLC boosted its position in Chevron by 9.0% in the 3rd quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after buying an additional 476 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Chevron stock traded up $0.93 during mid-day trading on Tuesday, reaching $162.85. 5,533,624 shares of the company traded hands, compared to its average volume of 8,459,302. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.38. The company has a market capitalization of $302.46 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The firm’s fifty day moving average is $155.63 and its two-hundred day moving average is $151.66.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.09 EPS. On average, equities research analysts expect that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.00%. Chevron’s dividend payout ratio is 57.39%.

Analyst Ratings Changes

Several research firms have issued reports on CVX. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Piper Sandler upped their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Barclays started coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Monday, January 8th. Finally, Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

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.