Alpha DNA Investment Management LLC Buys 152 Shares of Chevron Co. (NYSE:CVX)

Alpha DNA Investment Management LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,716 shares of the oil and gas company’s stock after purchasing an additional 152 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Chevron were worth $973,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. TFB Advisors LLC raised its position in shares of Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after acquiring an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. raised its holdings in Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares during the last quarter. Meridian Financial Partners LLC lifted its position in Chevron by 0.5% during the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after purchasing an additional 67 shares during the period. Finally, Western Pacific Wealth Management LP grew its position in shares of Chevron by 14.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock worth $75,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $137.68 on Friday. 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 Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a fifty day simple moving average of $153.94 and a 200 day simple moving average of $153.50. The stock has a market capitalization of $242.39 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 in the prior year, the business posted $3.45 EPS. Research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.97%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday. UBS Group reduced their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $169.50.

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.