MCF Advisors LLC Raises Stake in Chevron Co. (NYSE:CVX)

MCF Advisors LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 0.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,437 shares of the oil and gas company’s stock after purchasing an additional 66 shares during the period. MCF Advisors LLC’s holdings in Chevron were worth $1,489,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Renaissance Investment Group LLC raised its stake in Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the last quarter. Camelot Portfolios LLC acquired a new position in Chevron in the 4th quarter valued at about $254,000. Kapstone Financial Advisors LLC raised its stake in 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 valued at $626,000 after purchasing an additional 211 shares during the last quarter. Lane & Associates LLC acquired a new position in Chevron in the 1st quarter valued at about $345,000. Finally, Guyasuta Investment Advisors Inc. increased its stake in shares of Chevron by 1.7% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after acquiring an additional 3,603 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVX. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Mizuho upped their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. TD Cowen upped their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Finally, Raymond James upped their price objective 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. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Chevron Stock Up 0.1 %

NYSE CVX opened at $156.42 on Friday. The stock has a market cap of $288.28 billion, a PE ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The business has a 50 day moving average price of $159.22 and a two-hundred day moving average price of $154.71. 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 (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. 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 14.40% and a net margin of 10.21%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.55 EPS. As a group, sell-side analysts predict that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Activity

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now directly owns 27,725 shares in the company, valued at approximately $4,581,279. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. In the last three months, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently owned by insiders.

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.