Promus Capital LLC Acquires Shares of 494 Chevron Co. (NYSE:CVX)

Promus Capital LLC acquired a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 494 shares of the oil and gas company’s stock, valued at approximately $72,000.

A number of other large investors also recently modified their holdings of the company. Life Planning Partners Inc purchased a new position in shares of Chevron in the 4th quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the 3rd quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 0.7 %

Shares of NYSE CVX opened at $150.93 on Thursday. 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 Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a 50-day moving average price of $153.65 and a 200 day moving average price of $151.61. The stock has a market capitalization of $265.73 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm posted $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on CVX shares. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Company Profile

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.