Kingstone Capital Partners Texas LLC Takes Position in Chevron Co. (NYSE:CVX)

Kingstone Capital Partners Texas LLC purchased a new stake in Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 14,637 shares of the oil and gas company's stock, valued at approximately $2,120,000. Chevron comprises about 1.7% of Kingstone Capital Partners Texas LLC's portfolio, making the stock its 20th largest position.

Several other institutional investors also recently bought and sold shares of CVX. Norges Bank acquired a new position in Chevron in the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. purchased a new stake in shares of Chevron during the 4th quarter valued at $1,036,302,000. Bank of New York Mellon Corp grew its stake in shares of Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after buying an additional 2,432,756 shares during the period. Amundi grew its stake in shares of Chevron by 27.7% during 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 period. Finally, Capital World Investors grew its stake in shares of Chevron by 11.4% during 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 buying an additional 1,440,808 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.9%

CVX stock traded up $1.24 during trading on Tuesday, reaching $137.78. The stock had a trading volume of 8,335,736 shares, compared to its average volume of 8,850,834. Chevron Co. has a 1-year low of $132.04 and a 1-year 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. The company has a market capitalization of $240.62 billion, a P/E ratio of 14.17, a PEG ratio of 1.46 and a beta of 0.83. The firm has a fifty day moving average price of $144.12 and a 200 day moving average price of $151.03.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS 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 for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the business posted $2.93 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.96%. Chevron's dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CVX shares. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Raymond James lowered their price objective 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. TD Cowen lowered their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, Truist Financial decreased 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. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of "Hold" and an average target price of $160.24.

Chevron 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.