Allen Capital Group LLC Grows Stake in Chevron Co. (NYSE:CVX)

Allen Capital Group LLC raised its stake in Chevron Co. (NYSE:CVX) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,838 shares of the oil and gas company’s stock after purchasing an additional 3,063 shares during the quarter. Allen Capital Group LLC’s holdings in Chevron were worth $3,705,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV increased its position in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter worth about $33,000. Worth Asset Management LLC purchased a new stake in shares of Chevron during the first quarter worth about $36,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Chevron during the third quarter worth about $43,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.28 on Wednesday. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.54. The stock has a market cap of $290.25 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 2.37 and a beta of 1.12. The stock’s 50 day moving average price is $155.11 and its 200 day moving average price is $151.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.09 earnings per share. Equities research analysts anticipate that Chevron Co. will post 13.28 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CVX shares. Truist Financial decreased their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Piper Sandler decreased their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research note on Tuesday, February 6th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $183.55.

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.