W.H. Cornerstone Investments Inc. Acquires 2,155 Shares of Chevron Co. (NYSE:CVX)

W.H. Cornerstone Investments Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 96.7% during the fourth quarter, HoldingsChannel reports. The fund owned 4,383 shares of the oil and gas company’s stock after purchasing an additional 2,155 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Chevron were worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Windsor Advisory Group LLC increased its position in shares of Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after buying an additional 720 shares during the period. 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 purchasing an additional 697 shares in the last quarter. Altrius Capital Management Inc boosted its holdings 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 valued at $3,597,000 after purchasing an additional 434 shares during the period. Camelot Portfolios LLC purchased a new position in shares of Chevron during the 4th quarter valued at $254,000. Finally, Kapstone Financial Advisors LLC increased its holdings in shares of Chevron by 5.3% in the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.3 %

Chevron stock traded down $0.48 during trading hours on Friday, reaching $160.25. The company had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. The firm has a market cap of $297.63 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 2.37 and a beta of 1.11. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company has a 50-day moving average price of $157.26 and a 200 day moving average price of $151.53.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS 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 the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.55 earnings per share. Equities analysts forecast that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

Several equities analysts recently commented on CVX shares. Truist Financial reduced their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Mizuho upped their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Piper Sandler boosted their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Barclays began coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $185.35.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’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 of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

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.