W.H. Cornerstone Investments Inc. Has $654,000 Position in Chevron Co. (NYSE:CVX)

W.H. Cornerstone Investments Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 96.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,383 shares of the oil and gas company’s stock after buying an additional 2,155 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Chevron were worth $654,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVX. Picton Mahoney Asset Management acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $26,000. Bare Financial Services Inc bought a new position in shares of Chevron in the 4th quarter valued at about $27,000. Valley Forge Investment Consultants Inc. ADV increased its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $33,000. Finally, Legacy Financial Group LLC acquired a new stake in Chevron in the 3rd quarter valued at about $43,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted 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. UBS Group increased their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Wells Fargo & Company lifted their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Piper Sandler raised their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $185.35.

Chevron Price Performance

CVX stock traded down $0.48 during midday trading on Friday, reaching $160.25. The company had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The stock has a 50 day moving average price of $157.26 and a 200-day moving average price of $151.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company has a market capitalization of $297.63 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.55 EPS. Equities research analysts expect that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The firm 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on 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 sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

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.