Chevron Co. (NYSE:CVX) Stock Position Raised by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group boosted its holdings in Chevron Co. (NYSE:CVX) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,319 shares of the oil and gas company’s stock after acquiring an additional 278 shares during the period. Rehmann Capital Advisory Group’s holdings in Chevron were worth $2,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the fourth quarter valued at $29,000. Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the period. Navigoe LLC bought a new position in shares of Chevron during the fourth quarter worth about $33,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron in the 4th quarter valued at about $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.6 %

CVX stock opened at $139.30 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $245.25 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company’s 50 day simple moving average is $150.96 and its 200-day simple moving average is $152.82.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the company earned $3.45 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.91%. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CVX shares. UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $166.06.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

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.