Neumann Capital Management LLC Boosts Position in Chevron Co. (NYSE:CVX)

Neumann Capital Management LLC grew its position in Chevron Co. (NYSE:CVX) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,695 shares of the oil and gas company’s stock after buying an additional 100 shares during the quarter. Neumann Capital Management LLC’s holdings in Chevron were worth $1,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Chevron during the 3rd quarter valued at about $29,000. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron during the 3rd quarter worth approximately $31,000. Finally, Livelsberger Financial Advisory acquired a new stake in Chevron during the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CVX shares. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Truist Financial upped their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

CVX stock opened at $155.62 on Friday. The stock has a 50-day moving average price of $153.81 and a two-hundred day moving average price of $151.15. The company has a market cap of $279.66 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.05 EPS. As a group, research analysts predict that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.