Crown Oak Advisors LLC Purchases Shares of 3,000 Chevron Co. (NYSE:CVX)

Crown Oak Advisors LLC acquired a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, HoldingsChannel reports. The firm acquired 3,000 shares of the oil and gas company’s stock, valued at approximately $447,000. Chevron accounts for 0.3% of Crown Oak Advisors LLC’s holdings, making the stock its 20th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Granite Bay Wealth Management LLC boosted its position in Chevron by 23.3% during the 4th quarter. Granite Bay Wealth Management LLC now owns 108,692 shares of the oil and gas company’s stock worth $16,423,000 after purchasing an additional 20,569 shares during the period. Capital Advisors Inc. OK lifted its stake in shares of Chevron by 4.4% during the fourth quarter. Capital Advisors Inc. OK now owns 527,278 shares of the oil and gas company’s stock worth $78,649,000 after purchasing an additional 22,023 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in shares of Chevron in the fourth quarter worth about $245,000. Louisiana State Employees Retirement System acquired a new stake in shares of Chevron in the fourth quarter valued at about $15,826,000. Finally, WCM Investment Management LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $258,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. Piper Sandler dropped their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a research note on Thursday. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, UBS Group increased their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.60.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX opened at $158.96 on Monday. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.88. The stock has a market capitalization of $295.23 billion, a P/E ratio of 13.99, a P/E/G ratio of 2.40 and a beta of 1.12. The firm’s 50 day moving average is $154.92 and its 200-day moving average is $152.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.09 earnings per share. Equities research analysts anticipate that Chevron Co. will post 13.24 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.10%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

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.