GSA Capital Partners LLP Takes Position in Chevron Corporation $CVX

GSA Capital Partners LLP purchased a new stake in shares of Chevron Corporation (NYSE:CVX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,962 shares of the oil and gas company’s stock, valued at approximately $909,000.

A number of other institutional investors have also recently made changes to their positions in the company. D.B. Root & Company LLC grew its holdings in shares of Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after buying an additional 57 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Chevron by 6.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 59 shares during the last quarter. MMA Asset Management LLC grew its holdings in shares of Chevron by 3.4% during the fourth quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock valued at $277,000 after buying an additional 59 shares during the last quarter. EWA LLC grew its holdings in shares of Chevron by 2.8% during the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock valued at $333,000 after buying an additional 59 shares during the last quarter. Finally, Barlow Wealth Partners LLC grew its holdings in shares of Chevron by 1.1% during the fourth quarter. Barlow Wealth Partners LLC now owns 5,363 shares of the oil and gas company’s stock valued at $869,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3%

Shares of Chevron stock opened at $191.51 on Friday. The company’s fifty day simple moving average is $193.54 and its 200-day simple moving average is $174.60. The stock has a market capitalization of $381.42 billion, a PE ratio of 33.19, a P/E/G ratio of 0.64 and a beta of 0.51. Chevron Corporation has a 1-year low of $134.06 and a 1-year high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.18 EPS. As a group, equities analysts anticipate that Chevron Corporation will post 15.43 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Analyst Ratings Changes

A number of research firms have recently commented on CVX. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Piper Sandler increased their price target on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Bank of America raised their target price on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Sanford C. Bernstein dropped their target price on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Finally, Morgan Stanley raised their target price on shares of Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.22.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
• Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale

Insider Activity

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total transaction of $2,187,528.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,179,699 shares of company stock worth $224,675,517. 0.56% of the stock is currently owned by insiders.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.