Rahlfs Capital LLC Purchases New Shares in Chevron Co. (NYSE:CVX)

Rahlfs Capital LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,154 shares of the oil and gas company’s stock, valued at approximately $1,181,000. Chevron comprises approximately 1.1% of Rahlfs Capital LLC’s holdings, making the stock its 25th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Hurley Capital LLC acquired a new position in shares of Chevron in the fourth quarter worth about $63,000. Hemenway Trust Co LLC increased its holdings in Chevron by 2.5% during the 4th quarter. Hemenway Trust Co LLC now owns 150,733 shares of the oil and gas company’s stock worth $21,832,000 after purchasing an additional 3,719 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of Chevron by 6.8% in the 4th quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company’s stock valued at $17,101,000 after purchasing an additional 7,557 shares in the last quarter. Annandale Capital LLC boosted its stake in shares of Chevron by 5.7% during the 4th quarter. Annandale Capital LLC now owns 1,471 shares of the oil and gas company’s stock valued at $213,000 after buying an additional 79 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Chevron by 2.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,667,101 shares of the oil and gas company’s stock worth $675,983,000 after buying an additional 123,859 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $143.10 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $157.38 and its two-hundred day moving average is $154.10. The firm has a market capitalization of $251.95 billion, a P/E ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the company posted $3.45 EPS. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

A number of research firms have commented on CVX. Piper Sandler reduced their price objective on shares of 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 price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

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.