Reaves W H & Co. Inc. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Reaves W H & Co. Inc. grew its stake in Chevron Co. (NYSE:CVX) by 28.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,700 shares of the oil and gas company’s stock after purchasing an additional 1,700 shares during the period. Reaves W H & Co. Inc.’s holdings in Chevron were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Ethos Financial Group LLC boosted its holdings in Chevron by 42.8% in the 4th quarter. Ethos Financial Group LLC now owns 7,421 shares of the oil and gas company’s stock valued at $1,107,000 after purchasing an additional 2,225 shares during the last quarter. Patton Albertson Miller Group LLC raised its stake in shares of Chevron by 12.3% in the 4th quarter. Patton Albertson Miller Group LLC now owns 42,753 shares of the oil and gas company’s stock valued at $6,377,000 after acquiring an additional 4,681 shares during the period. Arcadia Investment Management Corp MI raised its stake in shares of Chevron by 8.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 7,067 shares of the oil and gas company’s stock valued at $1,054,000 after acquiring an additional 528 shares during the period. Selway Asset Management raised its stake in shares of Chevron by 1.3% in the 4th quarter. Selway Asset Management now owns 24,045 shares of the oil and gas company’s stock valued at $3,587,000 after acquiring an additional 300 shares during the period. Finally, Pettee Investors Inc. raised its stake in shares of Chevron by 4.1% in the 4th quarter. Pettee Investors Inc. now owns 19,571 shares of the oil and gas company’s stock valued at $2,919,000 after acquiring an additional 763 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.2 %

Shares of Chevron stock traded up $0.35 during trading hours on Friday, hitting $165.80. The company had a trading volume of 5,489,358 shares, compared to its average volume of 7,787,020. The company’s 50-day moving average is $158.10 and its two-hundred day moving average is $151.63. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company has a market cap of $306.23 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 2.40 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the business posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders sold a total of 13,247 shares of company stock worth $2,154,164 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Tuesday, February 6th. Piper Sandler upped their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, Mizuho upped their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.85.

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.