Birchcreek Wealth Management LLC Has $632,000 Position in Chevron Co. (NYSE:CVX)

Birchcreek Wealth Management LLC increased its stake in Chevron Co. (NYSE:CVX) by 7.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,239 shares of the oil and gas company’s stock after purchasing an additional 285 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Chevron were worth $632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in shares of Chevron during the third quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth approximately $33,000. Legacy Financial Group LLC acquired a new position in shares of Chevron during the third quarter worth approximately $43,000. Finally, Roble Belko & Company Inc lifted its holdings in shares of Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.4 %

NYSE:CVX traded up $0.71 during mid-day trading on Monday, hitting $166.60. The company had a trading volume of 3,361,030 shares, compared to its average volume of 8,416,370. The firm has a market cap of $309.42 billion, a P/E ratio of 15.35, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The business’s fifty day moving average is $156.58 and its two-hundred day moving average is $151.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the business posted $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, research analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders 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 annualized dividend and a yield of 3.91%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, 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 document filed with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CVX shares. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. TD Cowen upped their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday. Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Truist Financial cut their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Finally, DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $185.25.

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.