Schear Investment Advisers LLC acquired a new position in Chevron Co. (NYSE:CVX – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,233 shares of the oil and gas company’s stock, valued at approximately $2,375,000. Chevron accounts for approximately 2.9% of Schear Investment Advisers LLC’s investment portfolio, making the stock its 6th biggest position.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Worth Asset Management LLC purchased a new stake in Chevron in the 1st quarter worth about $36,000. JDM Financial Group LLC bought a new position in shares of Chevron during the fourth quarter valued at approximately $42,000. Global Wealth Strategies & Associates bought a new position in shares of Chevron during the fourth quarter valued at approximately $46,000. Orion Capital Management LLC boosted its stake in shares of Chevron by 32.9% during the fourth quarter. Orion Capital Management LLC now owns 295 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 73 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in shares of Chevron by 127.3% during the third quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 210 shares in the last quarter. 69.37% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, VP Rhonda J. Morris sold 19,666 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total value of $3,343,220.00. Following the sale, the vice president now directly owns 3,967 shares of the company’s stock, valued at approximately $674,390. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.
Analyst Ratings Changes
Chevron Stock Performance
Shares of CVX opened at $169.04 on Wednesday. The company has a 50-day simple moving average of $164.77 and a 200-day simple moving average of $169.67. The company has a quick ratio of 1.23, a current ratio of 1.47 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $322.30 billion, a PE ratio of 9.25, a P/E/G ratio of 0.79 and a beta of 1.16. 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 quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). The company had revenue of $56.47 billion during the quarter, compared to analysts’ expectations of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.56 EPS. Equities research analysts predict that Chevron Co. will post 14.56 earnings per share for the current fiscal year.
Chevron announced that its board has initiated a share repurchase plan on Wednesday, January 25th that authorizes the company to repurchase $75.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 21.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Chevron Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Wednesday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio (DPR) is currently 33.04%.
Chevron Profile
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.
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