PCG Asset Management LLC Invests $583,000 in Chevron Co. (NYSE:CVX)

PCG Asset Management LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, Holdings Channel.com reports. The firm acquired 4,026 shares of the oil and gas company’s stock, valued at approximately $583,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Duncker Streett & Co. Inc. grew its stake in Chevron by 0.7% in the 4th quarter. Duncker Streett & Co. Inc. now owns 21,451 shares of the oil and gas company’s stock worth $3,107,000 after buying an additional 146 shares in the last quarter. Sharkey Howes & Javer lifted its position in Chevron by 78.0% in the 4th quarter. Sharkey Howes & Javer now owns 2,482 shares of the oil and gas company’s stock worth $360,000 after buying an additional 1,088 shares during the last quarter. Capital Wealth Planning LLC grew its position in Chevron by 6.2% during the fourth quarter. Capital Wealth Planning LLC now owns 2,189,879 shares of the oil and gas company’s stock valued at $317,182,000 after acquiring an additional 128,218 shares during the last quarter. Onefund LLC lifted its holdings in shares of Chevron by 2.6% in the 4th quarter. Onefund LLC now owns 4,585 shares of the oil and gas company’s stock worth $664,000 after acquiring an additional 117 shares during the last quarter. Finally, Nixon Peabody Trust Co. grew its holdings in shares of Chevron by 13.8% during the 4th quarter. Nixon Peabody Trust Co. now owns 82,496 shares of the oil and gas company’s stock valued at $11,949,000 after purchasing an additional 9,974 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.2 %

NYSE:CVX opened at $158.59 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a market capitalization of $279.21 billion, a PE ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.11. The firm’s 50-day moving average price is $153.14 and its 200-day moving average price is $151.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the firm posted $3.45 earnings per share. On average, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CVX shares. Piper Sandler decreased their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Profile

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.