Chiron Capital Management LLC Acquires Shares of 1,278 Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Apr 2nd, 2023

Chiron Capital Management LLC acquired a new stake in Chevron Co. (NYSE:CVX – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,278 shares of the oil and gas company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Good Life Advisors LLC increased its position in Chevron by 2.6% in the 3rd quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock valued at $4,031,000 after acquiring an additional 719 shares in the last quarter. M&R Capital Management Inc. increased its position in Chevron by 9.8% in the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock valued at $1,361,000 after acquiring an additional 674 shares in the last quarter. Sage Mountain Advisors LLC increased its position in Chevron by 77.1% in the 2nd quarter. Sage Mountain Advisors LLC now owns 6,046 shares of the oil and gas company’s stock valued at $875,000 after acquiring an additional 2,632 shares in the last quarter. CapWealth Advisors LLC increased its position in Chevron by 0.6% in the 3rd quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock valued at $24,959,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Joel Isaacson & Co. LLC increased its position in Chevron by 0.8% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 18,710 shares of the oil and gas company’s stock valued at $2,688,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 69.37% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $163.16 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. The company has a market capitalization of $311.09 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 0.78 and a beta of 1.16. The company’s 50 day moving average price is $165.22 and its two-hundred day moving average price is $169.47. Chevron Co. has a 52 week low of $132.54 and a 52 week high of $189.68.

Chevron (NYSE:CVX – Get Rating) last announced its earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing the consensus estimate of $4.16 by ($0.07). The company had revenue of $56.47 billion for the quarter, compared to analyst estimates of $53.97 billion. Chevron had a return on equity of 23.52% and a net margin of 14.40%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $2.56 earnings per share. On average, analysts expect that Chevron Co. will post 14.56 earnings per share for the current fiscal year.

Chevron announced that its board has initiated a share buyback plan on Wednesday, January 25th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 21.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were issued 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 yield of 3.70%. The ex-dividend date was Wednesday, February 15th. Chevron’s dividend payout ratio (DPR) is 33.04%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVX shares. StockNews.com started coverage on shares of Chevron in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. BNP Paribas lowered shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 target price on the stock. in a research note on Wednesday, December 14th. Raymond James reduced their target price on shares of Chevron from $215.00 to $212.00 and set an “outperform” rating on the stock in a research note on Monday, January 30th. Truist Financial raised their target price on shares of Chevron from $169.00 to $179.00 and gave the company a “hold” rating in a research note on Tuesday, January 31st. Finally, Piper Sandler reduced their target price on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, December 19th. 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 company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus price target of $189.33.

Chevron Company Profile

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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.