Dentgroup LLC Makes New $224,000 Investment in Chevron Co. (NYSE:CVX)

Dentgroup LLC acquired a new position in shares of Chevron Co. (NYSE:CVX – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,248 shares of the oil and gas company’s stock, valued at approximately $224,000.

A number of other large investors have also recently made changes to their positions in CVX. ICW Investment Advisors LLC grew its position in shares of Chevron by 0.5% in the third quarter. ICW Investment Advisors LLC now owns 10,931 shares of the oil and gas company’s stock valued at $1,570,000 after purchasing an additional 55 shares during the last quarter. Childress Capital Advisors LLC lifted its stake in shares of Chevron by 0.8% in the third quarter. Childress Capital Advisors LLC now owns 7,314 shares of the oil and gas company’s stock valued at $1,051,000 after buying an additional 57 shares during the period. Klingman & Associates LLC grew its position in Chevron by 1.6% during the third quarter. Klingman & Associates LLC now owns 3,736 shares of the oil and gas company’s stock worth $537,000 after buying an additional 58 shares in the last quarter. Knuff & Co LLC raised its holdings in Chevron by 0.5% in the 3rd quarter. Knuff & Co LLC now owns 12,234 shares of the oil and gas company’s stock valued at $1,758,000 after acquiring an additional 60 shares in the last quarter. Finally, SignalPoint Asset Management LLC raised its stake in shares of Chevron by 0.4% in the 3rd quarter. SignalPoint Asset Management LLC now owns 14,906 shares of the oil and gas company’s stock valued at $2,141,000 after buying an additional 61 shares in the last quarter. 69.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total value of $3,343,220.00. Following the transaction, the vice president now directly owns 3,967 shares of the company’s stock, valued at $674,390. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. BNP Paribas cut Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price objective for the company. in a report on Wednesday, December 14th. HSBC raised their price target on Chevron to $187.00 in a research report on Friday, December 2nd. Truist Financial increased their price target on shares of Chevron from $169.00 to $179.00 and gave the company a “hold” rating in a research report on Tuesday, January 31st. StockNews.com initiated coverage on Chevron in a research note on Thursday. They set a “hold” rating on the stock. Finally, Morgan Stanley decreased their price objective on Chevron from $197.00 to $195.00 and set an “equal weight” rating for the company in a research report on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $189.50.

Chevron Stock Down 1.3 %

Shares of NYSE CVX opened at $152.34 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. Chevron Co. has a 52 week low of $132.54 and a 52 week high of $189.68. The stock has a market capitalization of $290.46 billion, a P/E ratio of 8.33, a PEG ratio of 0.76 and a beta of 1.16. The stock’s fifty day moving average is $169.06 and its 200 day moving average is $169.38.

Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The business had revenue of $56.47 billion during the quarter, compared to the consensus estimate of $53.97 billion. During the same quarter in the prior year, the firm earned $2.56 EPS. The business’s revenue was up 17.1% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 14.87 earnings per share for the current fiscal year.

Chevron announced that its board has approved a stock buyback plan on Wednesday, January 25th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 21.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 33.04%.

Chevron Company Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.