SCP Investment LP Has $1.23 Million Stake in Chevron Co. (NYSE:CVX)

SCP Investment LP boosted its position in shares of Chevron Co. (NYSE:CVX) by 105.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,800 shares of the oil and gas company’s stock after purchasing an additional 4,000 shares during the period. Chevron comprises 1.1% of SCP Investment LP’s holdings, making the stock its 8th biggest holding. SCP Investment LP’s holdings in Chevron were worth $1,232,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after purchasing an additional 3,181,946 shares in the last quarter. Morgan Stanley raised its holdings in shares of Chevron by 7.0% in the third 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. J.P. Morgan Private Wealth Advisors LLC bought a new position in Chevron during the 3rd quarter worth about $348,789,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after purchasing an additional 1,999,332 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Chevron by 36.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after purchasing an additional 1,230,619 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.8 %

Shares of NYSE:CVX traded up $2.95 during midday trading on Thursday, reaching $165.49. 6,682,814 shares of the company’s stock were exchanged, compared to its average volume of 8,426,376. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock has a market cap of $305.66 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 2.37 and a beta of 1.11. The firm’s 50 day simple moving average is $157.82 and its two-hundred day simple moving average is $151.53. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.55 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.94%. Chevron’s payout ratio is presently 59.98%.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,247 shares of company stock valued at $2,154,164. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Barclays started coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. Truist Financial cut their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $185.35.

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.