Triumph Capital Management Purchases Shares of 4,096 Chevron Co. (NYSE:CVX)

Triumph Capital Management acquired a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,096 shares of the oil and gas company’s stock, valued at approximately $611,000.

A number of other hedge funds have also recently made changes to their positions in the stock. ICW Investment Advisors LLC raised its position in Chevron by 0.6% in the fourth quarter. ICW Investment Advisors LLC now owns 11,996 shares of the oil and gas company’s stock valued at $1,789,000 after purchasing an additional 76 shares during the period. Berry Wealth Group LP acquired a new stake in shares of Chevron in the fourth quarter valued at $348,000. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Chevron by 14.9% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 41,578 shares of the oil and gas company’s stock valued at $6,202,000 after buying an additional 5,402 shares during the period. Cannell & Co. lifted its stake in Chevron by 48.9% during the 4th quarter. Cannell & Co. now owns 223,256 shares of the oil and gas company’s stock worth $33,301,000 after acquiring an additional 73,306 shares in the last quarter. Finally, Brandywine Oak Private Wealth LLC boosted its holdings in Chevron by 4.0% during the 4th quarter. Brandywine Oak Private Wealth LLC now owns 7,804 shares of the oil and gas company’s stock valued at $1,164,000 after acquiring an additional 297 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX traded down $2.01 on Wednesday, reaching $159.26. The company’s stock had a trading volume of 3,502,242 shares, compared to its average volume of 8,393,443. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The stock has a market capitalization of $295.79 billion, a P/E ratio of 14.69, a PEG ratio of 2.43 and a beta of 1.12. The stock’s 50-day moving average is $156.96 and its two-hundred day moving average is $151.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the business earned $3.55 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 13.71 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given 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 4.09%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The shares were 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 $45,540. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Truist Financial cut their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $185.35.

Chevron 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.