Patrick M Sweeney & Associates Inc. Takes Position in Chevron Co. (NYSE:CVX)

Patrick M Sweeney & Associates Inc. bought a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,618 shares of the oil and gas company’s stock, valued at approximately $391,000.

Several other hedge funds have also recently made changes to their positions in the business. Windsor Advisory Group LLC lifted its position 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 acquiring an additional 720 shares during the period. Renaissance Investment Group LLC raised its holdings 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 worth $923,000 after acquiring an additional 697 shares during the last quarter. Altrius Capital Management Inc lifted its holdings in shares of Chevron by 2.1% during the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in shares of Chevron during the fourth quarter valued at $254,000. Finally, Kapstone Financial Advisors LLC lifted its stake in Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after acquiring an additional 211 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 0.1 %

NYSE:CVX traded down $0.13 during mid-day trading on Wednesday, hitting $162.54. 6,684,371 shares of the company’s stock traded hands, compared to its average volume of 8,445,723. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a market capitalization of $300.21 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company has a fifty day moving average of $157.62 and a 200 day moving average of $151.45.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the business earned $3.55 EPS. On average, analysts forecast that Chevron Co. will post 13.53 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.01%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,247 shares of company stock worth $2,154,164. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVX. Royal Bank of Canada lifted their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Tuesday, February 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. TD Cowen increased their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Finally, Piper Sandler upped their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

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.