Delta Financial Group Inc. Buys Shares of 12,204 Chevron Co. (NYSE:CVX)

Delta Financial Group Inc. bought a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 12,204 shares of the oil and gas company’s stock, valued at approximately $1,768,000.

A number of other large investors also recently added to or reduced their stakes in the business. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. Rational Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the 3rd quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the third quarter worth $31,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock opened at $156.92 on Friday. 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 firm has a market cap of $282.00 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock’s 50-day moving average is $151.97 and its two-hundred day moving average is $151.05.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter last year, the business posted $3.45 earnings per share. Analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction 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. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVX. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Truist Financial decreased their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.