Kingstone Capital Partners Texas LLC Acquires Shares of 14,637 Chevron Co. (NYSE:CVX)

Kingstone Capital Partners Texas LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,637 shares of the oil and gas company’s stock, valued at approximately $2,120,000. Chevron makes up about 1.7% of Kingstone Capital Partners Texas LLC’s investment portfolio, making the stock its 20th biggest position.

Other hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new stake in Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the 4th quarter valued at approximately $29,000. 10Elms LLP bought a new position in Chevron during the 4th quarter worth approximately $29,000. Fairway Wealth LLC lifted its holdings in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Finally, Navigoe LLC bought a new position in Chevron during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVX. TD Cowen reduced their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Piper Sandler reduced their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Up 1.0%

CVX opened at $136.66 on Friday. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market cap of $238.66 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.46 and a beta of 0.83. The stock’s 50 day moving average price is $144.66 and its 200 day moving average price is $151.25.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the firm earned $2.93 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

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.