Martin Worley Group Makes New Investment in Chevron Co. (NYSE:CVX)

Martin Worley Group purchased a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,399 shares of the oil and gas company’s stock, valued at approximately $492,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Disciplined Investors L.L.C. acquired a new position in Chevron in the 4th quarter valued at $236,000. OneAscent Financial Services LLC grew its position in shares of Chevron by 39.8% in the fourth quarter. OneAscent Financial Services LLC now owns 5,551 shares of the oil and gas company’s stock valued at $804,000 after purchasing an additional 1,580 shares during the last quarter. Cinctive Capital Management LP bought a new position in shares of Chevron in the fourth quarter worth about $4,368,000. Bryce Point Capital LLC acquired a new position in shares of Chevron during the 4th quarter worth about $851,000. Finally, Private Portfolio Partners LLC lifted its position in shares of Chevron by 6.3% during the 4th quarter. Private Portfolio Partners LLC now owns 17,514 shares of the oil and gas company’s stock worth $2,537,000 after purchasing an additional 1,042 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Down 1.1 %

Shares of NYSE CVX opened at $166.62 on Thursday. The business has a fifty day moving average of $157.63 and a two-hundred day moving average of $154.08. 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 $168.96. The stock has a market cap of $293.35 billion, a PE ratio of 17.14, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 quarter last year, the business earned $3.45 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.11%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

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.