Fire Capital Management LLC Makes New $598,000 Investment in Chevron Co. (NYSE:CVX)

Fire Capital Management LLC bought a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,126 shares of the oil and gas company’s stock, valued at approximately $598,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new position in shares of Chevron in the fourth quarter valued at about $940,000. DSG Capital Advisors LLC bought a new stake in Chevron in the 4th quarter valued at about $2,743,000. Chancellor Financial Group WB LP acquired a new position in shares of Chevron during the 4th quarter worth approximately $632,000. Triton Wealth Management PLLC increased its holdings in shares of Chevron by 24.8% during the fourth quarter. Triton Wealth Management PLLC now owns 2,913 shares of the oil and gas company’s stock worth $461,000 after purchasing an additional 578 shares during the period. Finally, Thoma Capital Management LLC bought a new stake in shares of Chevron in the fourth quarter valued at approximately $658,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 1.3%

NYSE:CVX opened at $136.05 on Thursday. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s fifty day moving average is $143.01 and its 200-day moving average is $150.83. The firm has a market cap of $237.60 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.46 and a beta of 0.83.

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

Chevron Announces Dividend

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 $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.03%. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Redburn Atlantic reissued a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Finally, Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Three equities research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.