Sunbeam Capital Management LLC Acquires Shares of 2,935 Chevron Co. (NYSE:CVX)

Sunbeam Capital Management LLC purchased a new position in Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,935 shares of the oil and gas company's stock, valued at approximately $425,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in Chevron during the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the fourth quarter worth approximately $29,000. 10Elms LLP acquired a new position in shares of Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. Piper Sandler cut their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company cut their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Barclays cut 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 report on Wednesday, April 23rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has an average rating of "Hold" and an average target price of $160.24.

Chevron Price Performance

Shares of NYSE CVX traded up $1.24 during trading on Tuesday, hitting $137.78. 8,339,036 shares of the company were exchanged, compared to its average volume of 8,082,749. The company has a market cap of $240.62 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm's fifty day moving average price is $144.12 and its 200 day moving average price is $151.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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

Chevron Dividend Announcement

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

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.