TigerOak Management L.L.C. Buys New Stake in Chevron Co. (NYSE:CVX)

TigerOak Management L.L.C. bought a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,807 shares of the oil and gas company’s stock, valued at approximately $1,276,000.

Several other large investors have also recently bought and sold shares of the business. Puff Wealth Management LLC acquired a new position in Chevron in the fourth quarter valued at $345,000. Tanglewood Legacy Advisors LLC boosted its stake in Chevron by 18.3% in the fourth quarter. Tanglewood Legacy Advisors LLC now owns 4,969 shares of the oil and gas company’s stock valued at $720,000 after acquiring an additional 769 shares in the last quarter. Roxbury Financial LLC acquired a new position in Chevron in the fourth quarter valued at $990,000. Guyasuta Investment Advisors Inc. boosted its stake in Chevron by 1.0% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 242,140 shares of the oil and gas company’s stock valued at $35,072,000 after acquiring an additional 2,410 shares in the last quarter. Finally, Aveo Capital Partners LLC boosted its stake in Chevron by 1.9% in the fourth quarter. Aveo Capital Partners LLC now owns 13,043 shares of the oil and gas company’s stock valued at $1,889,000 after acquiring an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.4 %

NYSE CVX opened at $155.32 on Friday. The stock has a market capitalization of $279.12 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a 50-day moving average price of $151.86 and a 200 day moving average price of $150.86. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the firm earned $3.45 earnings per share. Equities research analysts expect that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. Chevron’s dividend payout ratio (DPR) is 67.08%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.