Kovack Advisors Inc. Has $6.67 Million Position in Chevron Co. (NYSE:CVX)

Kovack Advisors Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,741 shares of the oil and gas company’s stock after buying an additional 2,384 shares during the period. Chevron makes up about 0.8% of Kovack Advisors Inc.’s portfolio, making the stock its 14th largest position. Kovack Advisors Inc.’s holdings in Chevron were worth $6,674,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CVX. Picton Mahoney Asset Management bought a new stake in shares of Chevron in the 3rd quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV grew its stake 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 in the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth $33,000. Legacy Financial Group LLC bought a new stake in shares of Chevron in the 3rd quarter worth $43,000. Finally, Roble Belko & Company Inc grew its stake in shares of Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX traded up $0.55 during mid-day trading on Friday, reaching $165.83. The stock had a trading volume of 9,733,427 shares, compared to its average volume of 8,480,016. The firm has a 50 day moving average price of $156.58 and a two-hundred day moving average price of $151.83. The stock has a market capitalization of $307.99 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.41 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, missing analysts’ consensus estimates of $3.06 by ($0.13). The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $3.55 earnings per share. As a group, analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Royal Bank of Canada lifted their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Monday, January 8th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Truist Financial reduced their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Company 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.