Rogco LP Buys 2,511 Shares of Chevron Co. (NYSE:CVX)

Rogco LP boosted its stake in shares of Chevron Co. (NYSE:CVX) by 32.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,243 shares of the oil and gas company’s stock after purchasing an additional 2,511 shares during the quarter. Rogco LP’s holdings in Chevron were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Picton Mahoney Asset Management acquired a new stake in Chevron in the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings 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 purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $33,000. Legacy Financial Group LLC purchased a new stake in Chevron in the third quarter valued at $43,000. Finally, Roble Belko & Company Inc boosted its stake in shares of Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.6 %

Shares of NYSE CVX traded up $0.94 during mid-day trading on Thursday, reaching $160.57. 2,166,443 shares of the company’s stock were exchanged, compared to its average volume of 8,368,179. The firm has a market capitalization of $298.22 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 2.38 and a beta of 1.11. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company’s 50-day moving average is $157.04 and its 200-day moving average is $151.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter last year, the firm earned $3.55 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts expect that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.06%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVX shares. TD Cowen lifted their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday. Truist Financial lowered their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. 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. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Raymond James increased their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $185.35.

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.