GAMMA Investing LLC Buys 5,044 Shares of Chevron Co. (NYSE:CVX)

GAMMA Investing LLC raised its stake in Chevron Co. (NYSE:CVX) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,401 shares of the oil and gas company’s stock after buying an additional 5,044 shares during the period. GAMMA Investing LLC’s holdings in Chevron were worth $3,679,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Lantz Financial LLC lifted its position in Chevron by 2.7% in the 2nd quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after buying an additional 623 shares during the last quarter. Cozad Asset Management Inc. boosted its stake in shares of Chevron by 18.6% in the 2nd quarter. Cozad Asset Management Inc. now owns 6,427 shares of the oil and gas company’s stock valued at $1,005,000 after purchasing an additional 1,010 shares in the last quarter. Hodges Capital Management Inc. boosted its stake in shares of Chevron by 10.2% in the 2nd quarter. Hodges Capital Management Inc. now owns 13,176 shares of the oil and gas company’s stock valued at $2,061,000 after purchasing an additional 1,220 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Chevron by 56.3% during the 2nd quarter. Larson Financial Group LLC now owns 8,471 shares of the oil and gas company’s stock valued at $1,325,000 after purchasing an additional 3,053 shares during the last quarter. Finally, Stablepoint Partners LLC raised its position in Chevron by 5.3% in the 2nd quarter. Stablepoint Partners LLC now owns 37,919 shares of the oil and gas company’s stock worth $5,938,000 after purchasing an additional 1,916 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company increased their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Truist Financial lifted their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $175.19.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $146.71 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a market capitalization of $263.65 billion, a P/E ratio of 16.12, a P/E/G ratio of 2.93 and a beta of 1.10. The company’s 50-day moving average is $153.81 and its 200 day moving average is $151.30. 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 posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.44%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.