Chapman Financial Group LLC Purchases New Shares in Chevron Co. (NYSE:CVX)

Chapman Financial Group LLC acquired a new stake in Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,116 shares of the oil and gas company's stock, valued at approximately $1,031,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allianz SE acquired a new stake in Chevron in the 4th quarter valued at about $9,369,000. Nicholas Company Inc. grew its stake in shares of Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after purchasing an additional 3,280 shares during the last quarter. Applied Finance Capital Management LLC increased 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 valued at $26,044,000 after purchasing an additional 2,755 shares in the last quarter. Cerity Partners LLC raised its position in Chevron by 4.5% in the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock worth $174,817,000 after purchasing an additional 52,307 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd acquired a new position in Chevron during the 4th quarter worth $594,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction 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 completion of the transaction, the vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Chevron Stock Performance

Shares of CVX stock opened at $138.53 on Monday. The company has a market capitalization of $243.90 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company's 50 day moving average price is $149.76 and its two-hundred day moving average price is $152.57.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the business earned $2.93 EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.94%. Chevron's payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Wells Fargo & Company dropped 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. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $165.27.

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.

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