Hunter Associates Investment Management LLC Grows Position in Chevron Co. (NYSE:CVX)

Hunter Associates Investment Management LLC boosted its stake in Chevron Co. (NYSE:CVX) by 31.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,402 shares of the oil and gas company’s stock after buying an additional 4,661 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Chevron were worth $2,897,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV increased its position in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in Chevron in the 4th quarter worth about $33,000. Worth Asset Management LLC purchased a new stake in Chevron in the 1st quarter worth about $36,000. Finally, Legacy Financial Group LLC purchased a new stake in Chevron in the 3rd quarter worth about $43,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX traded up $2.43 during trading hours on Friday, reaching $160.00. 7,734,654 shares of the company’s stock traded hands, compared to its average volume of 6,934,255. The stock has a market cap of $297.16 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm’s 50 day simple moving average is $155.44 and its 200-day simple moving average is $151.86. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.38.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter last year, the company posted $4.09 EPS. Equities analysts expect that Chevron Co. will post 13.27 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. Chevron’s payout ratio is presently 57.39%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVX. Truist Financial decreased their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Wells Fargo & Company lifted their price objective on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Piper Sandler lifted their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Insider Buying and Selling

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

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.