Financial Management Professionals Inc. Buys 1,076 Shares of Chevron Co. (NYSE:CVX)

Financial Management Professionals Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 16.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,514 shares of the oil and gas company’s stock after purchasing an additional 1,076 shares during the quarter. Financial Management Professionals Inc.’s holdings in Chevron were worth $1,088,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Rational Advisors LLC bought a new position in Chevron during the third quarter worth $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron in the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the 3rd quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC grew its stake in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $161.54 on Monday. 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 Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The business’s 50 day simple moving average is $153.93 and its two-hundred day simple moving average is $151.05.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the firm earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts forecast that Chevron Co. will post 10.39 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Analysts Set New Price Targets

A number of brokerages recently commented on CVX. Wells Fargo & Company increased their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. UBS Group increased their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Truist Financial increased their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Royal Bank of Canada lifted their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

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.