Bourgeon Capital Management LLC Acquires 2,477 Shares of Chevron Co. (NYSE:CVX)

Bourgeon Capital Management LLC increased its holdings in Chevron Co. (NYSE:CVX) by 24.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,427 shares of the oil and gas company’s stock after purchasing an additional 2,477 shares during the period. Bourgeon Capital Management LLC’s holdings in Chevron were worth $1,854,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new position in Chevron in the 3rd quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV lifted its position in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. DHJJ Financial Advisors Ltd. bought a new stake in Chevron during the 3rd quarter valued at approximately $35,000. Valued Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at approximately $33,000. Finally, Worth Asset Management LLC bought a new position in Chevron in the 1st quarter worth approximately $36,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 0.5 %

CVX opened at $156.83 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $155.03 and a two-hundred day moving average price of $151.92. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.54. The stock has a market capitalization of $291.28 billion, a PE ratio of 13.87, a PEG ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share 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 analysts’ expectations of $50.93 billion. During the same period in the previous year, the business posted $4.09 EPS. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Co. will post 13.24 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Truist Financial decreased their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. Finally, Piper Sandler reduced their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $183.55.

Insider Activity

In related 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 value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.