Sunpointe LLC Purchases 518 Shares of Chevron Co. (NYSE:CVX)

Sunpointe LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,695 shares of the oil and gas company’s stock after purchasing an additional 518 shares during the quarter. Sunpointe LLC’s holdings in Chevron were worth $535,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the 3rd quarter worth about $29,000. Rational Advisors LLC bought a new stake in Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth approximately $39,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVX. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial decreased their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, 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 report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $157.14 on Thursday. The company has a market cap of $282.39 billion, a PE ratio of 16.17, a P/E/G ratio of 1.43 and a beta of 1.11. The firm’s 50 day moving average price is $151.82 and its 200-day moving average price is $150.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

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 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 firm posted $3.45 EPS. Sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. Chevron’s payout ratio is currently 70.37%.

About Chevron

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.