Chevron Co. (NYSE:CVX) Shares Acquired by Viking Fund Management LLC

Viking Fund Management LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 52.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,000 shares of the oil and gas company’s stock after acquiring an additional 37,000 shares during the period. Chevron comprises approximately 2.4% of Viking Fund Management LLC’s holdings, making the stock its 5th biggest position. Viking Fund Management LLC’s holdings in Chevron were worth $15,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new position in Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the 3rd quarter worth about $31,000. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron in the 3rd quarter worth about $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Truist Financial raised their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, UBS Group lifted their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Stock Down 0.3 %

CVX stock opened at $155.99 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a market capitalization of $280.32 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12. The firm’s 50-day moving average is $154.05 and its two-hundred day moving average is $151.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.05 EPS. On average, analysts forecast that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.18%. Chevron’s dividend payout ratio is currently 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

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.