Sivia Capital Partners LLC Acquires New Shares in Chevron Co. (NYSE:CVX)

Sivia Capital Partners LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 3,706 shares of the oil and gas company’s stock, valued at approximately $553,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cove Private Wealth LLC purchased a new position in Chevron during the fourth quarter worth about $1,375,000. Wahed Invest LLC grew its position in Chevron by 6.1% during the fourth quarter. Wahed Invest LLC now owns 29,398 shares of the oil and gas company’s stock worth $4,385,000 after buying an additional 1,689 shares in the last quarter. Red Mountain Financial LLC purchased a new position in Chevron during the fourth quarter worth about $466,000. ICA Group Wealth Management LLC grew its position in Chevron by 3.3% during the fourth quarter. ICA Group Wealth Management LLC now owns 15,549 shares of the oil and gas company’s stock worth $2,319,000 after buying an additional 493 shares in the last quarter. Finally, Objective Capital Management LLC grew its position in Chevron by 3.1% during the fourth quarter. Objective Capital Management LLC now owns 2,456 shares of the oil and gas company’s stock worth $366,000 after buying an additional 75 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.4 %

Shares of NYSE:CVX opened at $153.23 on Tuesday. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The firm has a market capitalization of $282.40 billion, a P/E ratio of 14.10, a P/E/G ratio of 2.27 and a beta of 1.12. The stock has a 50 day moving average price of $159.78 and a 200-day moving average price of $153.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the company earned $3.55 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.26%. Chevron’s payout ratio is currently 59.98%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock worth $3,176,223 in the last 90 days. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. HSBC boosted their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

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.