Empire Financial Management Company LLC Purchases 480 Shares of Chevron Co. (NYSE:CVX)

Empire Financial Management Company LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,361 shares of the oil and gas company’s stock after purchasing an additional 480 shares during the quarter. Chevron comprises 1.0% of Empire Financial Management Company LLC’s holdings, making the stock its 29th largest holding. Empire Financial Management Company LLC’s holdings in Chevron were worth $3,094,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Chevron in the fourth quarter valued at $3,017,750,000. Raymond James Financial Inc. purchased a new position in Chevron during the 4th quarter worth $1,036,302,000. Bank of New York Mellon Corp raised its holdings in shares of Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares during the last quarter. Amundi boosted its holdings in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the last quarter. Finally, Capital World Investors increased its stake in Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock valued at $2,039,288,000 after buying an additional 1,440,808 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $136.70 on Thursday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization of $240.68 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business has a 50 day simple moving average of $152.37 and a 200-day simple moving average of $153.10.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the company earned $3.45 earnings per share. Equities analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 5.00%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Wells Fargo & Company decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Finally, Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $171.00 to $152.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $165.71.

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.