CV Advisors LLC Takes $851,000 Position in Chevron Co. (NYSE:CVX)

CV Advisors LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 5,875 shares of the oil and gas company’s stock, valued at approximately $851,000. Chevron accounts for about 0.3% of CV Advisors LLC’s portfolio, making the stock its 19th biggest holding.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. State Street Corp lifted its position in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the period. LPL Financial LLC lifted its position in shares of Chevron by 5.7% in the 3rd quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock worth $463,560,000 after acquiring an additional 171,089 shares during the period. Dale Q Rice Investment Management Ltd bought a new stake in shares of Chevron in the 4th quarter worth approximately $594,000. Finally, Unified Investment Management acquired a new position in shares of Chevron in the 4th quarter worth approximately $729,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company dropped their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

Shares of NYSE CVX opened at $157.10 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The stock has a market cap of $276.59 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s 50-day simple moving average is $155.03 and its 200 day simple moving average is $152.02.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted $3.45 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced 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 a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. Chevron’s payout ratio is presently 70.37%.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

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.