ABC Arbitrage SA Purchases New Shares in Chevron Co. (NYSE:CVX)

ABC Arbitrage SA purchased a new stake in Chevron Co. (NYSE:CVX) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,657 shares of the oil and gas company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quadrant Private Wealth Management LLC raised its position in Chevron by 5.4% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 20,141 shares of the oil and gas company’s stock valued at $2,917,000 after purchasing an additional 1,035 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after purchasing an additional 2,641 shares during the last quarter. DeDora Capital Inc. raised its position in Chevron by 0.5% in the 4th quarter. DeDora Capital Inc. now owns 15,787 shares of the oil and gas company’s stock valued at $2,287,000 after purchasing an additional 81 shares during the last quarter. Klingenstein Fields & Co. LP raised its position in Chevron by 0.8% in the 4th quarter. Klingenstein Fields & Co. LP now owns 60,359 shares of the oil and gas company’s stock valued at $8,742,000 after purchasing an additional 487 shares during the last quarter. Finally, Campbell Wealth Management raised its position in Chevron by 181.3% in the 4th quarter. Campbell Wealth Management now owns 5,907 shares of the oil and gas company’s stock valued at $856,000 after purchasing an additional 3,807 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Raymond James dropped their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Price Performance

Chevron stock opened at $155.32 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $151.86 and its 200 day simple moving average is $150.86. The firm has a market capitalization of $279.12 billion, a PE ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 in the previous year, the business earned $3.45 earnings per share. On average, equities research analysts predict that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced 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 represents a $6.84 dividend on an annualized basis and a yield of 4.40%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is 67.08%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by insiders.

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.