River Global Investors LLP Invests $4.47 Million in Chevron Co. (NYSE:CVX)

River Global Investors LLP bought a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,000 shares of the oil and gas company’s stock, valued at approximately $4,474,000. Chevron makes up 0.8% of River Global Investors LLP’s holdings, making the stock its 28th biggest position.

Several other hedge funds have also modified their holdings of CVX. Windsor Advisory Group LLC lifted its stake in Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 720 shares in the last quarter. Renaissance Investment Group LLC lifted its stake in Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares in the last quarter. Altrius Capital Management Inc lifted its stake in Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after acquiring an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in Chevron in the 4th quarter worth about $254,000. Finally, Kapstone Financial Advisors LLC lifted its stake in Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after acquiring an additional 211 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE:CVX traded down $0.48 during trading on Friday, hitting $160.25. 11,664,505 shares of the stock were exchanged, compared to its average volume of 7,516,580. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market capitalization of $297.63 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11. The company’s fifty day simple moving average is $157.26 and its 200-day simple moving average is $151.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.55 EPS. Sell-side analysts expect that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. TD Cowen increased their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. UBS Group raised their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research note on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by corporate insiders.

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.