Targeted Financial Services LLC Acquires New Stake in Chevron Corporation $CVX

Targeted Financial Services LLC purchased a new position in Chevron Corporation (NYSE:CVX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,281 shares of the oil and gas company’s stock, valued at approximately $501,000. Chevron makes up approximately 0.4% of Targeted Financial Services LLC’s holdings, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. WMS Group LLC purchased a new position in Chevron in the 4th quarter worth $245,000. Tulsa Wealth Advisors INC purchased a new position in Chevron in the 4th quarter worth approximately $972,000. CFO Capital Management LLC bought a new stake in Chevron in the fourth quarter valued at approximately $900,000. Amicus Financial Advisors LLC bought a new stake in Chevron during the 4th quarter valued at $1,097,000. Finally, Clearwave Capital LLC bought a new position in shares of Chevron during the fourth quarter valued at about $646,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 615,200 shares of company stock worth $118,022,760 over the last quarter. 0.56% of the stock is currently owned by insiders.

Chevron Trading Down 0.1%

Chevron stock opened at $173.51 on Friday. Chevron Corporation has a 1 year low of $142.40 and a 1 year high of $214.71. The firm’s 50 day moving average price is $186.63 and its 200-day moving average price is $179.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market cap of $345.56 billion, a P/E ratio of 30.07, a PEG ratio of 0.57 and a beta of 0.48.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.18 earnings per share. On average, equities analysts predict that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. Chevron’s payout ratio is 123.40%.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Bank of America upped their price objective on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. TD Cowen lifted their price objective on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Mizuho lifted their target price on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Friday, March 20th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.