Paradigm Financial Partners LLC Increases Stake in Chevron Co. (NYSE:CVX)

Paradigm Financial Partners LLC grew its position in Chevron Co. (NYSE:CVX) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,189 shares of the oil and gas company’s stock after acquiring an additional 75 shares during the quarter. Paradigm Financial Partners LLC’s holdings in Chevron were worth $1,818,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in CVX. Picton Mahoney Asset Management purchased a new position in Chevron in the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV increased its stake in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter worth about $33,000. Legacy Financial Group LLC purchased a new position in Chevron in the 3rd quarter worth about $43,000. Finally, Roble Belko & Company Inc increased its stake in Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Monday, January 8th. Piper Sandler increased their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. Barclays started coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Finally, UBS Group raised their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Performance

Shares of Chevron stock traded up $0.61 during midday trading on Friday, hitting $165.89. The company had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The stock has a market cap of $308.10 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $156.58 and a 200 day simple moving average of $151.73. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the firm posted $3.55 EPS. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

About Chevron

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.