Chevron Co. (NYSE:CVX) Shares Acquired by CapWealth Advisors LLC

CapWealth Advisors LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,296 shares of the oil and gas company’s stock after purchasing an additional 6,736 shares during the quarter. Chevron makes up approximately 3.2% of CapWealth Advisors LLC’s holdings, making the stock its 6th biggest holding. CapWealth Advisors LLC’s holdings in Chevron were worth $26,595,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after acquiring an additional 458,080 shares during the last quarter. Morgan Stanley boosted its stake in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after purchasing an additional 2,244,995 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after purchasing an additional 24,467,521 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after purchasing an additional 368,898 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after purchasing an additional 569,850 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Chevron Stock Up 0.9 %

Shares of NYSE CVX traded up $1.40 during mid-day trading on Thursday, hitting $157.80. The company had a trading volume of 1,777,753 shares, compared to its average volume of 8,485,147. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.38. 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 $293.08 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12. The business’s 50-day simple moving average is $155.19 and its 200 day simple moving average is $151.86.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same period last year, the firm earned $4.09 earnings per share. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 13.56 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 57.39%.

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Mizuho lifted their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

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.