Chevron Co. (NYSE:CVX) Shares Acquired by Emfo LLC

Emfo LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,304 shares of the oil and gas company’s stock after purchasing an additional 2,000 shares during the period. Chevron comprises 1.7% of Emfo LLC’s portfolio, making the stock its 12th largest position. Emfo LLC’s holdings in Chevron were worth $1,835,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Windsor Advisory Group LLC boosted its holdings in shares of Chevron by 24.0% in 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 buying an additional 720 shares during the period. Renaissance Investment Group LLC lifted its stake in Chevron by 12.7% during the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the last quarter. Altrius Capital Management Inc lifted its position in shares of Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after acquiring an additional 434 shares during the last quarter. Camelot Portfolios LLC acquired a new position in shares of Chevron in the 4th quarter worth $254,000. Finally, Strategic Financial Concepts LLC raised its position in shares of Chevron by 9.0% during the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after purchasing an additional 476 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock traded down $1.68 during midday trading on Tuesday, hitting $155.91. 973,230 shares of the company traded hands, compared to its average volume of 8,536,177. The business has a 50 day simple moving average of $155.03 and a 200-day simple moving average of $151.92. The stock has a market capitalization of $289.57 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.54.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 EPS. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, equities research analysts predict that Chevron Co. will post 13.24 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.18%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Truist Financial cut their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. UBS Group lifted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Mizuho increased their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Piper Sandler lowered their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.55.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by 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.