Redwood Park Advisors LLC Buys New Stake in Chevron Co. (NYSE:CVX)

Redwood Park Advisors LLC acquired a new position in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 409 shares of the oil and gas company’s stock, valued at approximately $59,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Allianz SE purchased a new stake in shares of Chevron during the fourth quarter worth about $9,369,000. Nicholas Company Inc. boosted its holdings in shares of Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after buying an additional 3,280 shares during the period. Cerity Partners LLC boosted its holdings in shares of Chevron by 4.5% in the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock worth $174,817,000 after buying an additional 52,307 shares during the period. Applied Finance Capital Management LLC boosted its holdings in shares of Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock worth $26,044,000 after buying an additional 2,755 shares during the period. Finally, Dale Q Rice Investment Management Ltd acquired a new stake in shares of Chevron during the fourth quarter worth approximately $594,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value 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 $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent research reports. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

Chevron Trading Up 6.5 %

Shares of Chevron stock opened at $145.89 on Thursday. The company has a 50-day moving average of $155.99 and a two-hundred day moving average of $153.96. The stock has a market cap of $256.86 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Chevron Co. has a 12-month low of $133.88 and a 12-month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

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

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.69%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

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.