My Personal CFO LLC Invests $116,000 in Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Mar 21st, 2023

My Personal CFO LLC bought a new position in shares of Chevron Co. (NYSE:CVX – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 646 shares of the oil and gas company’s stock, valued at approximately $116,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. ICW Investment Advisors LLC increased its position in shares of Chevron by 0.5% during the third quarter. ICW Investment Advisors LLC now owns 10,931 shares of the oil and gas company’s stock worth $1,570,000 after purchasing an additional 55 shares in the last quarter. Childress Capital Advisors LLC grew its holdings in shares of Chevron by 0.8% during the third quarter. Childress Capital Advisors LLC now owns 7,314 shares of the oil and gas company’s stock worth $1,051,000 after buying an additional 57 shares during the last quarter. Klingman & Associates LLC grew its holdings in shares of Chevron by 1.6% during the third quarter. Klingman & Associates LLC now owns 3,736 shares of the oil and gas company’s stock worth $537,000 after buying an additional 58 shares during the last quarter. Knuff & Co LLC grew its holdings in shares of Chevron by 0.5% during the third quarter. Knuff & Co LLC now owns 12,234 shares of the oil and gas company’s stock worth $1,758,000 after buying an additional 60 shares during the last quarter. Finally, SignalPoint Asset Management LLC grew its holdings in shares of Chevron by 0.4% during the third quarter. SignalPoint Asset Management LLC now owns 14,906 shares of the oil and gas company’s stock worth $2,141,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 69.37% of the company’s stock.

Chevron Price Performance

CVX stock opened at $154.58 on Tuesday. The firm has a 50 day moving average of $168.65 and a 200-day moving average of $169.51. Chevron Co. has a 12-month low of $132.54 and a 12-month high of $189.68. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a market cap of $294.73 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 0.73 and a beta of 1.16.

Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by ($0.07). Chevron had a return on equity of 23.52% and a net margin of 14.40%. The company had revenue of $56.47 billion for the quarter, compared to analyst estimates of $53.97 billion. During the same quarter in the prior year, the firm earned $2.56 earnings per share. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 14.73 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were given a dividend of $1.51 per share. This is an increase from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Wednesday, February 15th. Chevron’s payout ratio is currently 33.04%.

Chevron declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 25th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase up to 21.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research reports. BNP Paribas lowered Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price target on the stock. in a report on Wednesday, December 14th. Morgan Stanley lowered their price target on Chevron from $197.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, January 30th. Truist Financial raised their price target on Chevron from $169.00 to $179.00 and gave the stock a “hold” rating in a report on Tuesday, January 31st. Piper Sandler lowered their price objective on Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Finally, StockNews.com started coverage on Chevron in a report on Thursday, March 16th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $189.50.

Insider Buying and Selling

In related news, VP Rhonda J. Morris sold 19,666 shares of Chevron stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the completion of the transaction, the vice president now directly owns 3,967 shares in the company, valued at approximately $674,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

About Chevron

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.