Cox Capital Mgt LLC Acquires 2,200 Shares of Chevron Co. (NYSE:CVX)

Cox Capital Mgt LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 11.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,863 shares of the oil and gas company’s stock after purchasing an additional 2,200 shares during the period. Chevron accounts for 2.0% of Cox Capital Mgt LLC’s portfolio, making the stock its 17th largest position. Cox Capital Mgt LLC’s holdings in Chevron were worth $3,291,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Renaissance Investment Group LLC increased its holdings in shares of Chevron by 12.7% during the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after acquiring an additional 697 shares in the last quarter. Camelot Portfolios LLC bought a new position in Chevron in the 4th quarter valued at approximately $254,000. Kapstone Financial Advisors LLC increased its holdings in shares of Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares in the last quarter. Guyasuta Investment Advisors Inc. raised its position in Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after buying an additional 3,603 shares during the last quarter. Finally, Seven Mile Advisory lifted its stake in Chevron by 9.8% during the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 247 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. In the last three months, insiders sold 19,546 shares of company stock valued at $3,176,223. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Mizuho lifted their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Raymond James boosted their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. HSBC increased their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Barclays started coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Finally, Truist Financial increased their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Five 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, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Stock Down 0.9 %

Shares of CVX stock opened at $155.28 on Friday. The stock has a market cap of $286.18 billion, a P/E ratio of 14.29, a PEG ratio of 2.33 and a beta of 1.12. The company’s fifty day simple moving average is $159.25 and its two-hundred day simple moving average is $154.13. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the firm earned $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts predict that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. Chevron’s payout ratio is 59.98%.

About Chevron

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.