Farringdon Capital Ltd. Takes $1.75 Million Position in Chevron Co. (NYSE:CVX)

Farringdon Capital Ltd. bought a new stake in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, HoldingsChannel.com reports. The firm bought 12,055 shares of the oil and gas company’s stock, valued at approximately $1,746,000. Chevron comprises approximately 0.7% of Farringdon Capital Ltd.’s portfolio, making the stock its 18th largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter worth about $25,000. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter valued at $29,000. Fairway Wealth LLC boosted its stake in Chevron by 75.9% in 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 in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Chevron during the fourth quarter worth $39,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $135.41 on Thursday. The firm has a market capitalization of $238.40 billion, a P/E ratio of 13.93, a PEG ratio of 1.46 and a beta of 0.93. The business has a 50-day moving average of $154.30 and a 200-day moving average of $153.56. 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 Co. has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company posted $3.45 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 5.05%. Chevron’s payout ratio is currently 70.37%.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. 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 report on Tuesday, February 4th. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.50.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

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.