Chevron Co. (NYSE:CVX) Position Increased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its stake in Chevron Co. (NYSE:CVX) by 21.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,336 shares of the oil and gas company’s stock after purchasing an additional 5,364 shares during the period. Verdence Capital Advisors LLC’s holdings in Chevron were worth $4,394,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Pettinga Financial Advisors LLC increased its position in Chevron by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 272 shares during the period. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at approximately $29,000. Catalyst Capital Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at approximately $2,455,000. Solitude Financial Services increased its position in Chevron by 42.0% in the 3rd quarter. Solitude Financial Services now owns 20,165 shares of the oil and gas company’s stock valued at $2,970,000 after acquiring an additional 5,968 shares during the period. Finally, Moloney Securities Asset Management LLC increased its position in Chevron by 2.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 22,583 shares of the oil and gas company’s stock valued at $3,326,000 after acquiring an additional 631 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $151.99 on Wednesday. The stock has a market cap of $267.59 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The business has a fifty day simple moving average of $153.51 and a 200-day simple moving average of $151.61. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm posted $3.45 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.50%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.