FNY Investment Advisers LLC Purchases Shares of 12,674 Chevron Co. (NYSE:CVX)

FNY Investment Advisers LLC acquired a new position in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,674 shares of the oil and gas company’s stock, valued at approximately $1,835,000. Chevron makes up approximately 1.0% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 28th largest position.

Several other institutional investors have also recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the third quarter worth $29,000. Rational Advisors LLC purchased a new stake in Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the 3rd quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC boosted its stake in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $155.07 on Tuesday. The business has a 50 day simple moving average of $153.71 and a 200-day simple moving average of $150.94. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market capitalization of $278.67 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the firm posted $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CVX shares. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Wells Fargo & Company raised their price objective on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. UBS Group raised their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.87.

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.