Opinicus Capital Inc. Invests $643,000 in Chevron Co. (NYSE:CVX)

Opinicus Capital Inc. acquired a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,311 shares of the oil and gas company’s stock, valued at approximately $643,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after purchasing an additional 458,080 shares in the last quarter. Morgan Stanley boosted its position in Chevron by 7.0% during the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Chevron by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after acquiring an additional 368,898 shares in the last quarter. Northern Trust Corp boosted its position in Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after acquiring an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Chevron by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after acquiring an additional 62,254 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Chevron Stock Performance

CVX stock traded up $0.61 during midday trading on Friday, reaching $165.89. The stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The stock has a market cap of $308.10 billion, a PE ratio of 14.60, a P/E/G ratio of 2.43 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a fifty day simple moving average of $156.58 and a two-hundred day simple moving average of $151.83. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $3.55 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 13.58 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s payout ratio is currently 57.39%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank of Canada increased their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Raymond James increased their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Mizuho raised their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Company 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.