Royal Fund Management LLC Has $950,000 Position in Chevron Co. (NYSE:CVX)

Royal Fund Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 9.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,373 shares of the oil and gas company’s stock after purchasing an additional 562 shares during the quarter. Royal Fund Management LLC’s holdings in Chevron were worth $950,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CVX. Windsor Advisory Group LLC boosted its position in Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares during the last quarter. Renaissance Investment Group LLC boosted its position in Chevron by 12.7% during the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the last quarter. Altrius Capital Management Inc boosted its position in Chevron by 2.1% during the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 434 shares during the last quarter. Camelot Portfolios LLC bought a new stake in Chevron in the fourth quarter valued at approximately $254,000. Finally, Kapstone Financial Advisors LLC raised its stake in Chevron by 5.3% in the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after buying an additional 211 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. Barclays initiated coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Truist Financial dropped their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. TD Cowen upped their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE CVX traded down $0.48 on Friday, hitting $160.25. 11,664,505 shares of the company’s stock were exchanged, compared to its average volume of 7,516,580. The stock has a 50-day moving average of $157.26 and a 200-day moving average of $151.76. The stock has a market cap of $297.63 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 2.38 and a beta of 1.11. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 14.38%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $3.55 earnings per share. Analysts expect that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Announces Dividend

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

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.