Dentgroup LLC Takes $224,000 Position in Chevron Co. (NYSE:CVX)

Dentgroup LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX – Get Rating) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,248 shares of the oil and gas company’s stock, valued at approximately $224,000.

A number of other institutional investors have also recently made changes to their positions in CVX. Renaissance Technologies LLC lifted its holdings in Chevron by 600.7% during the 2nd quarter. Renaissance Technologies LLC now owns 5,786,295 shares of the oil and gas company’s stock worth $837,740,000 after purchasing an additional 4,960,475 shares in the last quarter. FMR LLC increased its stake in Chevron by 62.3% in the 2nd quarter. FMR LLC now owns 11,343,585 shares of the oil and gas company’s stock worth $1,642,325,000 after acquiring an additional 4,354,660 shares during the last quarter. New England Asset Management Inc. increased its stake in Chevron by 106.3% in the 3rd quarter. New England Asset Management Inc. now owns 4,439,965 shares of the oil and gas company’s stock worth $637,889,000 after acquiring an additional 2,288,050 shares during the last quarter. Legal & General Group Plc increased its stake in Chevron by 16.3% in the 2nd quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock worth $1,964,620,000 after acquiring an additional 1,899,104 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Chevron by 7.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 12,052,751 shares of the oil and gas company’s stock valued at $1,731,739,000 after purchasing an additional 847,841 shares during the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CVX shares. Truist Financial increased their price objective on Chevron from $169.00 to $179.00 and gave the company a “hold” rating in a research report on Tuesday, January 31st. Morgan Stanley reduced their price target on Chevron from $197.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, January 30th. BNP Paribas lowered Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price target on the stock. in a research report on Wednesday, December 14th. Citigroup raised their price target on Chevron from $155.00 to $180.00 in a research report on Tuesday, November 22nd. Finally, HSBC increased their price objective on Chevron to $187.00 in a report on Friday, December 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $189.50.

Insider Buying and Selling

In related news, VP Rhonda J. Morris sold 19,666 shares of the business’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total value of $3,343,220.00. Following the sale, the vice president now directly owns 3,967 shares in the company, valued at $674,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by company insiders.

Chevron Price Performance

NYSE CVX opened at $152.34 on Friday. The company has a market capitalization of $290.46 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 0.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. The business’s fifty day moving average is $169.06 and its 200 day moving average is $169.38. Chevron Co. has a fifty-two week low of $132.54 and a fifty-two week high of $189.68.

Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing the consensus estimate of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company had revenue of $56.47 billion for the quarter, compared to analysts’ expectations of $53.97 billion. During the same quarter last year, the firm posted $2.56 earnings per share. Chevron’s revenue for the quarter was up 17.1% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 14.87 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were given a $1.51 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Wednesday, February 15th. Chevron’s payout ratio is currently 33.04%.

Chevron declared that its board has approved a share repurchase plan on Wednesday, January 25th that allows the company to buyback $75.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 21.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Chevron Profile

(Get Rating)

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.