Counterweight Ventures LLC Makes New Investment in Chevron Co. (NYSE:CVX)

Counterweight Ventures LLC purchased a new position in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,593 shares of the oil and gas company’s stock, valued at approximately $2,028,000. Chevron accounts for approximately 1.8% of Counterweight Ventures LLC’s investment portfolio, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bare Financial Services Inc bought a new position in shares of Chevron during the fourth quarter worth about $27,000. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $30,000. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $33,000. Clear Investment Research LLC increased its stake in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the period. Finally, Gold Investment Management Ltd. acquired a new position in shares of Chevron during the fourth quarter valued at approximately $49,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.2 %

CVX traded down $0.27 during trading hours on Friday, hitting $152.57. 6,159,138 shares of the company’s stock were exchanged, compared to its average volume of 6,205,760. The stock has a market cap of $281.18 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 2.27 and a beta of 1.12. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average is $159.95 and its two-hundred day moving average is $153.79. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.55 earnings per share. Sell-side analysts predict that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. UBS Group lifted their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Mizuho upped their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Truist Financial upped their target price on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now owns 7,647 shares in the company, valued at $1,231,167. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by insiders.

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.