Fire Capital Management LLC Invests $598,000 in Chevron Co. (NYSE:CVX)

Fire Capital Management LLC bought a new position in shares of Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,126 shares of the oil and gas company's stock, valued at approximately $598,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Life Planning Partners Inc bought a new position in Chevron during the fourth quarter worth about $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter worth about $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC lifted its stake in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock traded down $1.48 on Friday, reaching $136.43. The stock had a trading volume of 12,856,437 shares, compared to its average volume of 8,106,167. 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 firm's 50-day moving average is $141.88 and its two-hundred day moving average is $150.44. The firm has a market capitalization of $238.26 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating 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 business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the business earned $2.93 EPS. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.01%. Chevron's payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVX. 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. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Piper Sandler cut their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $160.24.

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.