Chevron Co. (NYSE:CVX) Shares Purchased by Hengehold Capital Management LLC

Hengehold Capital Management LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,931 shares of the oil and gas company’s stock after buying an additional 916 shares during the period. Hengehold Capital Management LLC’s holdings in Chevron were worth $4,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. AQR Capital Management LLC grew its stake in Chevron by 41.3% during the 2nd quarter. AQR Capital Management LLC now owns 858,155 shares of the oil and gas company’s stock valued at $134,233,000 after purchasing an additional 250,902 shares during the last quarter. Drucker Wealth 3.0 LLC purchased a new position in shares of Chevron in the second quarter worth about $216,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Chevron during the second quarter worth about $244,000. MBB Public Markets I LLC boosted its position in Chevron by 2,806.8% in the second quarter. MBB Public Markets I LLC now owns 124,820 shares of the oil and gas company’s stock valued at $19,524,000 after buying an additional 120,526 shares during the last quarter. Finally, Marathon Capital Management increased its holdings in Chevron by 0.8% in the 2nd quarter. Marathon Capital Management now owns 63,513 shares of the oil and gas company’s stock worth $9,935,000 after buying an additional 481 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CVX. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Wells Fargo & Company upped their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Raymond James boosted their price target on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity at Chevron

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

Chevron Price Performance

Shares of NYSE CVX opened at $155.62 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $279.66 billion, a PE ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The firm has a fifty day moving average of $153.93 and a 200 day moving average of $151.14.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts predict that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

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.