Opinicus Capital Inc. Buys 1,896 Shares of Chevron Co. (NYSE:CVX)

Opinicus Capital Inc. lifted its stake in shares of Chevron Co. (NYSE:CVX) by 44.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,207 shares of the oil and gas company’s stock after acquiring an additional 1,896 shares during the quarter. Opinicus Capital Inc.’s holdings in Chevron were worth $979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Bare Financial Services Inc acquired a new position in shares of Chevron during the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron in the fourth quarter valued at $30,000. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter valued at about $33,000. Cooksen Wealth LLC bought a new position in shares of Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC grew its stake in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CVX shares. HSBC boosted their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Mizuho upped their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price 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 research report on Tuesday, April 9th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.42 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $288.28 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The firm’s 50 day moving average price is $159.22 and its 200-day moving average price is $154.71. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the previous year, the company posted $3.55 earnings per share. Chevron’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

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.