Chevron Co. (NYSE:CVX) Shares Purchased by Viking Fund Management LLC

Viking Fund Management LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 46.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 22,000 shares of the oil and gas company’s stock after purchasing an additional 7,000 shares during the quarter. Viking Fund Management LLC’s holdings in Chevron were worth $3,470,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Bare Financial Services Inc bought a new position in Chevron in the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron during the fourth quarter worth approximately $30,000. Valued Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter worth approximately $33,000. Cooksen Wealth LLC bought a new position in Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC increased its position in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

CVX traded up $0.24 during trading on Thursday, hitting $156.19. The stock had a trading volume of 3,890,024 shares, compared to its average volume of 8,043,673. The firm has a market cap of $287.85 billion, a PE ratio of 14.37, a P/E/G ratio of 2.41 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a 50 day simple moving average of $159.32 and a 200-day simple moving average of $154.52.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the company posted $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVX. TD Cowen raised their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. HSBC lifted their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. UBS Group increased their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Truist Financial lifted their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $186.95.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock worth $3,176,223 in the last ninety days. 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.