Hurley Capital LLC Acquires New Stake in Chevron Co. (NYSE:CVX)

Hurley Capital LLC acquired a new position in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, HoldingsChannel reports. The firm acquired 423 shares of the oil and gas company’s stock, valued at approximately $63,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the fourth quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in Chevron during the third quarter worth about $29,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the 4th quarter worth about $29,000. Fairway Wealth LLC grew its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter valued at about $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

Chevron Stock Down 8.3 %

Shares of NYSE:CVX opened at $143.10 on Friday. The company has a 50 day moving average of $157.38 and a two-hundred day moving average of $154.18. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $251.95 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last released its quarterly 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company posted $3.45 EPS. As a group, analysts forecast 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 $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CVX shares. UBS Group lowered their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company lowered 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. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.