New Century Financial Group LLC Has $2.64 Million Stake in Chevron Co. (NYSE:CVX)

New Century Financial Group LLC lessened its stake in shares of Chevron Co. (NYSE:CVXFree Report) by 32.5% during the fourth quarter, Holdings Channel reports. The fund owned 17,846 shares of the oil and gas company’s stock after selling 8,605 shares during the quarter. Chevron comprises 1.1% of New Century Financial Group LLC’s investment portfolio, making the stock its 14th largest position. New Century Financial Group LLC’s holdings in Chevron were worth $2,638,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hedges Asset Management LLC raised its holdings in shares of Chevron by 2.9% during the fourth quarter. Hedges Asset Management LLC now owns 13,600 shares of the oil and gas company’s stock valued at $1,970,000 after purchasing an additional 388 shares during the period. Spinnaker Investment Group LLC increased its position in Chevron by 8.7% in the 4th quarter. Spinnaker Investment Group LLC now owns 2,420 shares of the oil and gas company’s stock valued at $351,000 after buying an additional 193 shares in the last quarter. Apeiron RIA LLC raised its stake in Chevron by 5.4% during the 4th quarter. Apeiron RIA LLC now owns 8,420 shares of the oil and gas company’s stock worth $1,220,000 after buying an additional 433 shares during the period. Veracity Capital LLC boosted its holdings in Chevron by 5.8% in the fourth quarter. Veracity Capital LLC now owns 4,829 shares of the oil and gas company’s stock worth $699,000 after acquiring an additional 265 shares in the last quarter. Finally, Secure Asset Management LLC grew its stake in Chevron by 18.6% in the fourth quarter. Secure Asset Management LLC now owns 16,940 shares of the oil and gas company’s stock valued at $2,454,000 after acquiring an additional 2,662 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.3 %

CVX stock opened at $155.62 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock has a market cap of $279.66 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. The stock’s fifty day simple moving average is $153.93 and its two-hundred day simple moving average is $151.14. 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:CVXGet Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating 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 company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.05 earnings per share. Analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Get Our Latest Research Report on Chevron

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXFree Report).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.