Bryce Point Capital LLC Invests $851,000 in Chevron Co. (NYSE:CVX)

Bryce Point Capital LLC acquired a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,877 shares of the oil and gas company’s stock, valued at approximately $851,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVX. United Bank raised its stake in Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 629 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Chevron during the third quarter valued at about $2,370,000. Atom Investors LP acquired a new stake in Chevron in the third quarter worth about $360,000. Mission Creek Capital Partners Inc. lifted its holdings in Chevron by 0.6% in the third quarter. Mission Creek Capital Partners Inc. now owns 32,029 shares of the oil and gas company’s stock worth $4,717,000 after purchasing an additional 179 shares during the period. Finally, Reynders McVeigh Capital Management LLC grew its position in Chevron by 12.6% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 1,712 shares of the oil and gas company’s stock valued at $252,000 after buying an additional 192 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX opened at $166.62 on Thursday. The company has a 50-day moving average of $157.63 and a two-hundred day moving average of $154.08. The stock has a market cap of $293.35 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.46 and a beta of 1.08. 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 Co. has a one year low of $135.37 and a one year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 last year, the business posted $3.45 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVX. UBS Group dropped their price target 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. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Company 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.