8,105 Shares in Chevron Corporation $CVX Acquired by PeakShares LLC

PeakShares LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,105 shares of the oil and gas company’s stock, valued at approximately $1,235,000. Chevron accounts for approximately 1.2% of PeakShares LLC’s portfolio, making the stock its 19th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Core Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth $26,000. Phillip James Consulting Co. acquired a new position in Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. acquired a new position in Chevron in the fourth quarter valued at about $27,000. Karpus Management Inc. bought a new stake in Chevron during the fourth quarter worth about $27,000. Finally, Quattro Advisors LLC bought a new stake in Chevron during the fourth quarter worth about $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE:CVX opened at $173.51 on Friday. Chevron Corporation has a twelve month low of $142.40 and a twelve month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $186.63 and its 200 day simple moving average is $179.01. The firm has a market capitalization of $345.56 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 earnings per share. On average, analysts anticipate that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. Chevron’s payout ratio is 123.40%.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 615,200 shares of company stock worth $118,022,760 over the last ninety days. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on CVX. Bank of America raised their target price on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a report on Monday, March 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Barclays increased their price target on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Piper Sandler boosted their price objective on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.