Chevron Co. (NYSE:CVX) Shares Acquired by Carret Asset Management LLC

Carret Asset Management LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,820 shares of the oil and gas company’s stock after purchasing an additional 288 shares during the quarter. Chevron makes up approximately 1.5% of Carret Asset Management LLC’s portfolio, making the stock its 9th largest position. Carret Asset Management LLC’s holdings in Chevron were worth $12,055,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Wedge Capital Management L L P NC increased its position in Chevron by 4.6% during the third quarter. Wedge Capital Management L L P NC now owns 3,088 shares of the oil and gas company’s stock worth $521,000 after acquiring an additional 135 shares during the period. LMG Wealth Partners LLC increased its position in Chevron by 2.8% during the third quarter. LMG Wealth Partners LLC now owns 57,913 shares of the oil and gas company’s stock worth $9,765,000 after acquiring an additional 1,562 shares during the period. Enterprise Bank & Trust Co increased its position in Chevron by 0.3% during the third quarter. Enterprise Bank & Trust Co now owns 23,609 shares of the oil and gas company’s stock worth $3,981,000 after acquiring an additional 75 shares during the period. Leavell Investment Management Inc. increased its holdings in Chevron by 1.0% in the 3rd quarter. Leavell Investment Management Inc. now owns 70,395 shares of the oil and gas company’s stock valued at $11,870,000 after buying an additional 717 shares during the period. Finally, Moseley Investment Management Inc. increased its holdings in Chevron by 3.1% in the 3rd quarter. Moseley Investment Management Inc. now owns 9,382 shares of the oil and gas company’s stock valued at $1,582,000 after buying an additional 281 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

Chevron Trading Up 0.5 %

Chevron stock traded up $0.84 during trading hours on Wednesday, reaching $163.69. 7,607,146 shares of the company’s stock traded hands, compared to its average volume of 8,448,613. 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 Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm has a market capitalization of $304.02 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 2.38 and a beta of 1.12. The firm’s 50 day moving average is $155.88 and its 200-day moving average is $151.66.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue was down 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.09 EPS. On average, analysts predict 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. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. 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 dividend yield of 3.98%. Chevron’s dividend payout ratio is 57.39%.

Analyst Upgrades and Downgrades

CVX has been the topic of several analyst reports. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. Wells Fargo & Company boosted their target price on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average 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.