Skopos Labs Inc. Makes New Investment in Chevron Co. (NYSE:CVX)

Skopos Labs Inc. purchased a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,207 shares of the oil and gas company’s stock, valued at approximately $777,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisory Services Network LLC raised its stake in shares of Chevron by 2.8% in the fourth quarter. Advisory Services Network LLC now owns 147,063 shares of the oil and gas company’s stock worth $21,936,000 after purchasing an additional 4,048 shares during the last quarter. Hoylecohen LLC raised its stake in shares of Chevron by 1.4% in the fourth quarter. Hoylecohen LLC now owns 119,534 shares of the oil and gas company’s stock worth $17,830,000 after purchasing an additional 1,610 shares during the last quarter. HCR Wealth Advisors raised its stake in shares of Chevron by 22.9% in the fourth quarter. HCR Wealth Advisors now owns 21,121 shares of the oil and gas company’s stock worth $3,150,000 after purchasing an additional 3,938 shares during the last quarter. ProVise Management Group LLC raised its stake in shares of Chevron by 4.9% in the fourth quarter. ProVise Management Group LLC now owns 46,664 shares of the oil and gas company’s stock worth $6,960,000 after purchasing an additional 2,166 shares during the last quarter. Finally, Team Hewins LLC purchased a new stake in shares of Chevron in the fourth quarter worth approximately $1,213,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Tuesday, February 6th. TD Cowen increased their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Mizuho increased their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $186.10.

Chevron Stock Performance

Shares of Chevron stock traded up $0.77 during trading hours on Friday, reaching $157.71. The company had a trading volume of 4,476,839 shares, compared to its average volume of 8,141,585. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The business has a fifty day simple moving average of $160.17 and a 200 day simple moving average of $152.41. 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 firm has a market cap of $290.65 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (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 analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $3.55 earnings per share. On average, analysts anticipate that Chevron Co. will post 13.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.13%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Insider Activity at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 19,546 shares of company stock valued at $3,176,223. Company 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.