Luken Investment Analytics LLC Acquires New Holdings in Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Apr 24th, 2023

Luken Investment Analytics LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 250 shares of the oil and gas company’s stock, valued at approximately $45,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Worth Asset Management LLC acquired a new stake in Chevron during the 1st quarter worth about $36,000. Red Tortoise LLC acquired a new stake in Chevron during the 4th quarter worth about $37,000. JDM Financial Group LLC acquired a new stake in Chevron during the 4th quarter worth about $42,000. Global Wealth Strategies & Associates acquired a new stake in Chevron during the 4th quarter worth about $46,000. Finally, Orion Capital Management LLC raised its holdings in Chevron by 32.9% during the 4th quarter. Orion Capital Management LLC now owns 295 shares of the oil and gas company’s stock worth $53,000 after buying an additional 73 shares during the period. 69.37% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.4 %

CVX opened at $169.12 on Monday. The business has a 50 day moving average price of $163.76 and a 200 day moving average price of $171.47. Chevron Co. has a twelve month low of $132.54 and a twelve month high of $189.68. 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 firm has a market cap of $320.42 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 0.83 and a beta of 1.16.

Chevron (NYSE:CVX – Get Rating) last posted its earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share 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 during the quarter, compared to analyst estimates of $53.97 billion. During the same quarter last year, the firm posted $2.56 earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. Research analysts forecast that Chevron Co. will post 14.39 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.57%. Chevron’s payout ratio is 33.04%.

Chevron declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 25th that permits the company to repurchase $75.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 21.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial boosted their price objective on Chevron from $179.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, April 11th. Cowen lowered their target price on Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. Wells Fargo & Company lowered their target price on Chevron from $204.00 to $199.00 and set an “overweight” rating on the stock in a research note on Thursday, March 2nd. StockNews.com started coverage on Chevron in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Barclays lifted their target price on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $193.50.

Insider Transactions at Chevron

In other news, VP Rhonda J. Morris sold 19,666 shares of the company’s 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 $674,390. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Chevron Company Profile

(Get Rating)

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.