Parvin Asset Management LLC Makes New $934,000 Investment in Chevron Co. (NYSE:CVX)

Parvin Asset Management LLC purchased a new position in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,450 shares of the oil and gas company's stock, valued at approximately $934,000. Chevron makes up 1.0% of Parvin Asset Management LLC's investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds also recently bought and sold shares of CVX. McIlrath & Eck LLC increased its stake in shares of Chevron by 5.8% during the 3rd quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company's stock worth $211,000 after purchasing an additional 78 shares during the last quarter. Westside Investment Management Inc. lifted its position in shares of Chevron by 9.0% in the third quarter. Westside Investment Management Inc. now owns 3,405 shares of the oil and gas company's stock worth $503,000 after buying an additional 281 shares during the last quarter. Diamant Asset Management Inc. lifted its holdings in Chevron by 6.2% in the 3rd quarter. Diamant Asset Management Inc. now owns 5,510 shares of the oil and gas company's stock worth $811,000 after purchasing an additional 320 shares during the last quarter. Wealthquest Corp grew its stake in Chevron by 2.3% in the 3rd quarter. Wealthquest Corp now owns 5,222 shares of the oil and gas company's stock valued at $782,000 after buying an additional 118 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd grew its position in shares of Chevron by 4.5% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 22,219 shares of the oil and gas company's stock valued at $3,254,000 after purchasing an additional 950 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Redburn Atlantic restated a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $165.27.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the 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 sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

Shares of NYSE:CVX traded up $2.27 during mid-day trading on Friday, reaching $138.53. The company had a trading volume of 12,386,040 shares, compared to its average volume of 7,984,073. The company's 50-day moving average price is $150.11 and its 200-day moving average price is $152.59. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $243.90 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.46 and a beta of 0.93. 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 - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. Chevron's dividend payout ratio (DPR) is presently 70.37%.

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.