10,000 Shares in Chevron Co. (NYSE:CVX) Acquired by RBF Capital LLC

by · The Markets Daily

RBF Capital LLC purchased a new stake in Chevron Co. (NYSE:CVX – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the oil and gas company’s stock, valued at approximately $1,448,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Norges Bank bought a new position in Chevron during the 4th quarter worth about $3,017,750,000. Raymond James Financial Inc. acquired a new position in shares of Chevron during the fourth quarter worth about $1,036,302,000. Bank of New York Mellon Corp grew its holdings in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares in the last quarter. Amundi raised its position in Chevron by 27.7% in the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after buying an additional 1,910,262 shares during the last quarter. Finally, Capital World Investors lifted its stake in Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock valued at $2,039,288,000 after acquiring an additional 1,440,808 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Barclays reduced their price objective 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. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Get Our Latest Analysis on Chevron

Insider Buying and Selling

In other Chevron 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 transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Stock Up 2.6 %

Chevron stock opened at $137.26 on Wednesday. The company’s 50-day moving average price is $152.74 and its two-hundred day moving average price is $153.22. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $241.66 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 period in the prior year, the business posted $3.45 EPS. As a group, analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.98%. Chevron’s dividend payout ratio is 70.37%.

Chevron Profile

(Free Report)

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.

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