Verus Financial Partners Inc. Buys 138 Shares of Chevron Co. (NYSE:CVX)

Verus Financial Partners Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 7.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,907 shares of the oil and gas company’s stock after purchasing an additional 138 shares during the quarter. Verus Financial Partners Inc.’s holdings in Chevron were worth $284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new stake in shares of Chevron during the third quarter worth $26,000. Bare Financial Services Inc acquired a new stake in Chevron in the 4th quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV increased its stake in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at $33,000. Finally, Roble Belko & Company Inc increased its stake in shares of Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.6 %

CVX traded up $1.04 on Thursday, reaching $163.58. 1,323,526 shares of the company traded hands, compared to its average volume of 8,366,176. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a fifty day simple moving average of $157.62 and a two-hundred day simple moving average of $151.45. The company has a market cap of $302.13 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.55 EPS. As a group, equities research analysts expect that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Royal Bank of Canada boosted their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Piper Sandler lifted their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, TD Cowen boosted their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $185.35.

Insider Transactions at Chevron

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders sold 13,247 shares of company stock valued at $2,154,164 over the last 90 days. 0.20% 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.