Telos Capital Management Inc. Raises Holdings in Chevron Co. (NYSE:CVX)

Telos Capital Management Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 18.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,800 shares of the oil and gas company’s stock after buying an additional 14,682 shares during the quarter. Chevron comprises about 1.7% of Telos Capital Management Inc.’s holdings, making the stock its 13th largest position. Telos Capital Management Inc.’s holdings in Chevron were worth $14,290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Cantor Fitzgerald Investment Advisor L.P lifted its position in shares of Chevron by 85.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after acquiring an additional 73,141 shares during the period. Axiom Financial Strategies LLC raised its position in shares of Chevron by 25.2% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 1,476 shares during the last quarter. GQG Partners LLC grew its stake in Chevron by 4.7% in the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after acquiring an additional 1,813 shares during the period. Lumature Wealth Partners LLC grew its stake in Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares during the period. Finally, First Trust Advisors LP grew its stake in Chevron by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after acquiring an additional 250,840 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVX. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, Truist Financial reduced their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.55.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were 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 owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.38 on Thursday. The firm’s 50 day moving average is $155.19 and its two-hundred day moving average is $151.86. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.39. The firm has a market capitalization of $290.44 billion, a P/E ratio of 13.77, a PEG ratio of 2.30 and a beta of 1.12. 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 posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the business earned $4.09 earnings per share. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 13.56 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

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.