Grandview Asset Management LLC Invests $2.21 Million in Chevron Co. (NYSE:CVX)

Grandview Asset Management LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,258 shares of the oil and gas company’s stock, valued at approximately $2,210,000. Chevron accounts for about 0.8% of Grandview Asset Management LLC’s investment portfolio, making the stock its 29th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dale Q Rice Investment Management Ltd bought a new position in shares of Chevron during the 4th quarter valued at $594,000. PSI Advisors LLC increased its position in Chevron by 1.6% during the fourth quarter. PSI Advisors LLC now owns 13,155 shares of the oil and gas company’s stock valued at $1,905,000 after acquiring an additional 209 shares during the last quarter. Traveka Wealth LLC bought a new position in Chevron in the fourth quarter valued at about $371,000. Unique Wealth LLC grew its stake in shares of Chevron by 38.1% during the 4th quarter. Unique Wealth LLC now owns 2,209 shares of the oil and gas company’s stock valued at $320,000 after purchasing an additional 610 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $1,835,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Finally, Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

Chevron Stock Up 1.3 %

Shares of NYSE:CVX opened at $155.07 on Tuesday. The business’s 50 day moving average is $153.71 and its 200 day moving average is $150.94. The stock has a market cap of $278.67 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm posted $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. Chevron’s dividend payout ratio is presently 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.