Islay Capital Management LLC Has $844,000 Position in Chevron Co. (NYSE:CVX)

Islay Capital Management LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,830 shares of the oil and gas company’s stock after purchasing an additional 467 shares during the period. Islay Capital Management LLC’s holdings in Chevron were worth $844,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. United Bank raised its position in shares of Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after acquiring an additional 629 shares during the last quarter. Arete Wealth Advisors LLC bought a new position in Chevron during the 3rd quarter worth approximately $2,370,000. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Chevron by 87.7% in the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 5,708 shares of the oil and gas company’s stock worth $841,000 after purchasing an additional 2,667 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Chevron by 1,202.3% in the 3rd quarter. Two Sigma Advisers LP now owns 245,563 shares of the oil and gas company’s stock valued at $36,164,000 after purchasing an additional 226,707 shares during the last quarter. Finally, Wills Financial Group Inc. increased its position in shares of Chevron by 5.0% during the third quarter. Wills Financial Group Inc. now owns 38,004 shares of the oil and gas company’s stock worth $5,597,000 after buying an additional 1,817 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on CVX shares. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

Shares of NYSE CVX opened at $143.10 on Friday. The stock has a market cap of $251.95 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $168.96. The firm’s 50-day simple moving average is $157.38 and its 200 day simple moving average is $154.10.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business posted $3.45 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.78%. Chevron’s dividend payout ratio is presently 70.37%.

About Chevron

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.