DLK Investment Management LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

DLK Investment Management LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 3.3% during the first quarter, HoldingsChannel.com reports. The fund owned 2,194 shares of the oil and gas company’s stock after buying an additional 70 shares during the quarter. DLK Investment Management LLC’s holdings in Chevron were worth $346,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bare Financial Services Inc bought a new stake in Chevron during the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron during the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $33,000. Cooksen Wealth LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC grew its holdings in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.5 %

CVX stock traded down $0.85 during trading on Tuesday, hitting $158.46. 6,054,866 shares of the company’s stock were exchanged, compared to its average volume of 8,073,076. The business has a 50-day moving average price of $159.28 and a two-hundred day moving average price of $154.41. The stock has a market capitalization of $292.04 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 2.36 and a beta of 1.12. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.55 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.11%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analyst Weigh In

Several research firms have commented on CVX. TD Cowen lifted their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. HSBC boosted their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Truist Financial lifted their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Mizuho lifted their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $186.95.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were 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 $1,231,167. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,546 shares of company stock valued at $3,176,223. Insiders own 0.20% of the company’s stock.

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.