Endeavor Private Wealth Inc. Takes Position in Chevron Co. (NYSE:CVX)

Endeavor Private Wealth Inc. acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 494 shares of the oil and gas company’s stock, valued at approximately $72,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Chevron by 41.3% in the 2nd quarter. AQR Capital Management LLC now owns 858,155 shares of the oil and gas company’s stock worth $134,233,000 after acquiring an additional 250,902 shares during the last quarter. Drucker Wealth 3.0 LLC purchased a new position in Chevron in the 2nd quarter worth $216,000. Deerfield Management Company L.P. Series C purchased a new position in Chevron in the 2nd quarter worth $244,000. MBB Public Markets I LLC raised its stake in Chevron by 2,806.8% in the 2nd quarter. MBB Public Markets I LLC now owns 124,820 shares of the oil and gas company’s stock worth $19,524,000 after acquiring an additional 120,526 shares during the last quarter. Finally, Marathon Capital Management raised its stake in Chevron by 0.8% in the 2nd quarter. Marathon Capital Management now owns 63,513 shares of the oil and gas company’s stock worth $9,935,000 after acquiring an additional 481 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Raymond James lifted their price objective on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $175.27.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

NYSE:CVX opened at $155.62 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market capitalization of $279.66 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. The stock’s 50-day moving average price is $153.93 and its 200-day moving average price is $151.14.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the firm posted $3.05 EPS. Chevron’s revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Chevron 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.