Hunter Associates Investment Management LLC Purchases 4,661 Shares of Chevron Co. (NYSE:CVX)

Hunter Associates Investment Management LLC grew its position in Chevron Co. (NYSE:CVX) by 31.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,402 shares of the oil and gas company’s stock after acquiring an additional 4,661 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Chevron were worth $2,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CVX. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Chevron by 0.4% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 452,716 shares of the oil and gas company’s stock worth $67,527,000 after purchasing an additional 1,700 shares during the period. Stephenson & Company Inc. purchased a new position in shares of Chevron in the 4th quarter worth approximately $218,000. J.W. Cole Advisors Inc. boosted its holdings in shares of Chevron by 24.1% in the 4th quarter. J.W. Cole Advisors Inc. now owns 43,570 shares of the oil and gas company’s stock worth $6,499,000 after purchasing an additional 8,467 shares during the period. Castle Wealth Management LLC boosted its holdings in shares of Chevron by 36.6% in the 4th quarter. Castle Wealth Management LLC now owns 5,474 shares of the oil and gas company’s stock worth $817,000 after purchasing an additional 1,467 shares during the period. Finally, Kraft Davis & Associates LLC boosted its holdings in shares of Chevron by 333.5% in the 4th quarter. Kraft Davis & Associates LLC now owns 5,393 shares of the oil and gas company’s stock worth $799,000 after purchasing an additional 4,149 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.5 %

Shares of CVX traded up $2.43 during trading hours on Friday, hitting $160.00. The company had a trading volume of 7,734,654 shares, compared to its average volume of 6,934,255. The company has a market capitalization of $297.16 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a one year low of $139.62 and a one year high of $172.38. The company’s fifty day moving average price is $155.44 and its two-hundred day moving average price is $151.86.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the company posted $4.09 EPS. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Royal Bank of Canada boosted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. Finally, Truist Financial dropped their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

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.