GEN Financial Management INC. Acquires New Stake in Chevron Co. (NYSE:CVX)

GEN Financial Management INC. acquired a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,443 shares of the oil and gas company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fourpath Capital Management LLC raised its stake in Chevron by 1.5% in the fourth quarter. Fourpath Capital Management LLC now owns 52,776 shares of the oil and gas company’s stock valued at $7,644,000 after buying an additional 764 shares in the last quarter. Optas LLC acquired a new position in Chevron in the fourth quarter valued at $321,000. Hodges Capital Management Inc. raised its stake in Chevron by 1.1% during the 4th quarter. Hodges Capital Management Inc. now owns 7,731 shares of the oil and gas company’s stock valued at $1,120,000 after acquiring an additional 84 shares during the last quarter. EQ Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $288,000. Finally, Jennison Associates LLC boosted its holdings in shares of Chevron by 11.0% in the fourth quarter. Jennison Associates LLC now owns 499,316 shares of the oil and gas company’s stock valued at $72,321,000 after acquiring an additional 49,633 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.1 %

NYSE:CVX opened at $149.39 on Tuesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business’s 50-day simple moving average is $153.19 and its 200 day simple moving average is $151.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $268.46 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the business earned $3.45 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is 67.08%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday. Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company dropped their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.60.

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.