ProVise Management Group LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

ProVise Management Group LLC grew its position in Chevron Co. (NYSE:CVX) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 46,664 shares of the oil and gas company’s stock after buying an additional 2,166 shares during the quarter. ProVise Management Group LLC’s holdings in Chevron were worth $6,960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in Chevron during the third quarter worth $26,000. Bare Financial Services Inc acquired a new position in Chevron during the 4th quarter worth approximately $27,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter worth approximately $33,000. Finally, Roble Belko & Company Inc lifted its stake in Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.5 %

Shares of NYSE CVX traded up $0.81 during midday trading on Friday, reaching $157.75. 4,476,373 shares of the company’s stock were exchanged, compared to its average volume of 8,141,585. 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 $290.73 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The business’s fifty day moving average price is $160.17 and its two-hundred day moving average price is $152.41.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.55 earnings per share. Analysts forecast that Chevron Co. will post 13.57 EPS for the current year.

Chevron Dividend Announcement

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

Insider Transactions at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,546 shares of company stock worth $3,176,223. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CVX shares. Barclays assumed coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Mizuho increased their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. HSBC increased their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research note on Tuesday, February 6th. Finally, Raymond James upped their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $186.10.

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.