Butensky & Cohen Financial Security Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,872 shares of the oil and gas company’s stock after buying an additional 289 shares during the period. Chevron comprises approximately 1.8% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its 5th biggest position. Butensky & Cohen Financial Security Inc.’s holdings in Chevron were worth $4,823,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. First Community Trust NA boosted its holdings in Chevron by 1.3% during the fourth quarter. First Community Trust NA now owns 7,286 shares of the oil and gas company’s stock worth $1,308,000 after buying an additional 93 shares in the last quarter. McGuire Investment Group LLC acquired a new position in Chevron in the 4th quarter worth approximately $207,000. Apella Capital LLC boosted its stake in Chevron by 17.7% in the 4th quarter. Apella Capital LLC now owns 7,908 shares of the oil and gas company’s stock worth $1,419,000 after purchasing an additional 1,192 shares during the period. Gries Financial LLC boosted its stake in Chevron by 23.3% in the 4th quarter. Gries Financial LLC now owns 3,523 shares of the oil and gas company’s stock worth $632,000 after purchasing an additional 666 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new position in Chevron in the 4th quarter worth approximately $7,999,000. 69.37% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on CVX. Mizuho reaffirmed a “neutral” rating and issued a $206.00 price objective on shares of Chevron in a research note on Friday. Wells Fargo & Company decreased their price objective on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a research note on Thursday, March 2nd. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $190.00 to $191.00 in a research note on Friday, January 6th. Morgan Stanley decreased their price objective on shares of Chevron from $197.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, January 30th. Finally, Cowen decreased their target price on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $189.50.
Insider Buying and Selling
Chevron Stock Down 1.3 %
Chevron stock opened at $152.34 on Friday. The company has a market capitalization of $290.46 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.73 and a beta of 1.16. The firm’s fifty day simple moving average is $169.06 and its 200-day simple moving average is $169.44. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $132.54 and a 1-year high of $189.68.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). The business had revenue of $56.47 billion for the quarter, compared to the consensus estimate of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.56 EPS. Sell-side analysts forecast that Chevron Co. will post 14.73 earnings per share for the current fiscal year.
Chevron Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Wednesday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio (DPR) is 33.04%.
Chevron declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 25th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 21.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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