YANKCOM Partnership Takes $820,000 Position in Chevron Co. (NYSE:CVX)

YANKCOM Partnership bought a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,660 shares of the oil and gas company’s stock, valued at approximately $820,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Rational Advisors LLC purchased a new stake in Chevron in the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the third quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron during the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Down 0.1 %

CVX opened at $153.01 on Thursday. The business has a 50 day moving average of $152.79 and a 200-day moving average of $150.89. The stock has a market capitalization of $274.98 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.29 and a beta of 1.11. 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 Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company earned $3.45 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 11.45 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.47%. Chevron’s dividend payout ratio is 67.08%.

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.