Sunburst Financial Group LLC Buys 202 Shares of Chevron Co. (NYSE:CVX)

Sunburst Financial Group LLC increased its stake in Chevron Co. (NYSE:CVX) by 10.6% during the fourth quarter, Holdings Channel reports. The firm owned 2,109 shares of the oil and gas company’s stock after acquiring an additional 202 shares during the period. Sunburst Financial Group LLC’s holdings in Chevron were worth $305,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter valued at about $25,000. Investment Partners Asset Management Inc. boosted its position in shares of Chevron by 33.3% during the 4th quarter. Investment Partners Asset Management Inc. now owns 3,219 shares of the oil and gas company’s stock worth $466,000 after acquiring an additional 805 shares in the last quarter. G&S Capital LLC increased its stake in Chevron by 1.6% in the fourth quarter. G&S Capital LLC now owns 29,663 shares of the oil and gas company’s stock valued at $4,296,000 after acquiring an additional 473 shares during the last quarter. Howard Bailey Securities LLC acquired a new position in Chevron during the fourth quarter valued at approximately $202,000. Finally, Hemington Wealth Management raised its position in Chevron by 18.7% during the fourth quarter. Hemington Wealth Management now owns 1,732 shares of the oil and gas company’s stock valued at $250,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction 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 owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $156.00 on Friday. The stock has a market cap of $280.35 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.11. 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 Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company’s fifty day moving average is $151.92 and its 200 day moving average is $150.84.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 period last year, the firm posted $3.45 earnings per share. Sell-side analysts forecast that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.38%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 67.08%.

Analyst Ratings Changes

CVX has been the topic of several recent analyst reports. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Wells Fargo & Company reduced their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.