Chevron Co. (NYSE:CVX) Stock Position Raised by RB Capital Management LLC

RB Capital Management LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,483 shares of the oil and gas company’s stock after purchasing an additional 1,135 shares during the period. Chevron comprises about 1.0% of RB Capital Management LLC’s holdings, making the stock its 23rd biggest holding. RB Capital Management LLC’s holdings in Chevron were worth $3,652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Picton Mahoney Asset Management purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its position in shares of Chevron by 80.0% in 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 in the last quarter. Valued Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $43,000. Finally, Roble Belko & Company Inc boosted its position in Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 1.0 %

Shares of CVX traded down $1.64 during trading hours on Wednesday, reaching $159.63. 7,708,613 shares of the company traded hands, compared to its average volume of 8,417,403. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company’s fifty day moving average price is $156.96 and its two-hundred day moving average price is $151.68. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $296.48 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the business earned $3.55 earnings per share. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 13.71 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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 in the company, valued at $44,184.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVX shares. Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday. Piper Sandler increased their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Truist Financial reduced their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. HSBC increased their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Mizuho upped their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.