Murphy & Mullick Capital Management Corp Buys Shares of 454 Chevron Co. (NYSE:CVX)

Murphy & Mullick Capital Management Corp purchased a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 454 shares of the oil and gas company’s stock, valued at approximately $66,000.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. United Bank increased its holdings in shares of Chevron by 8.4% in the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after acquiring an additional 629 shares during the period. Loomis Sayles & Co. L P boosted its position in shares of Chevron by 7.2% during the third quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company’s stock worth $355,000 after buying an additional 163 shares during the period. Freedom Investment Management Inc. grew its holdings in Chevron by 10.0% in the 3rd quarter. Freedom Investment Management Inc. now owns 9,089 shares of the oil and gas company’s stock worth $1,339,000 after buying an additional 830 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter valued at approximately $31,000. Finally, Providence Capital Advisors LLC raised its stake in Chevron by 29.3% during the 3rd quarter. Providence Capital Advisors LLC now owns 24,072 shares of the oil and gas company’s stock valued at $3,545,000 after acquiring an additional 5,458 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. UBS Group decreased their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Price Performance

CVX opened at $166.73 on Friday. The company’s 50 day simple moving average is $157.01 and its 200-day simple moving average is $153.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $293.54 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a one year low of $135.37 and a one year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly 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 in the prior year, the firm earned $3.45 EPS. Sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.10%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

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.