Kerusso Capital Management LLC Makes New $1.58 Million Investment in Chevron Co. (NYSE:CVX)

Kerusso Capital Management LLC acquired a new position in Chevron Co. (NYSE:CVX) in the 4th quarter, HoldingsChannel reports. The firm acquired 10,879 shares of the oil and gas company’s stock, valued at approximately $1,576,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $29,000. Rational Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the 3rd quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.4 %

Chevron stock opened at $155.32 on Monday. The firm has a market cap of $279.12 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11. The stock has a fifty day simple moving average of $151.86 and a two-hundred day simple moving average of $150.80. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. 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 issued 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 period in the prior year, the business posted $3.45 earnings per share. Equities analysts predict that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 67.08%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVX. UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.