Woodmont Investment Counsel LLC Raises Stake in Chevron Co. (NYSE:CVX)

Woodmont Investment Counsel LLC boosted its position in Chevron Co. (NYSE:CVX) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,395 shares of the oil and gas company’s stock after buying an additional 5,173 shares during the period. Chevron makes up approximately 1.5% of Woodmont Investment Counsel LLC’s investment portfolio, making the stock its 16th largest holding. Woodmont Investment Counsel LLC’s holdings in Chevron were worth $17,256,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CVX. Norges Bank acquired a new position in shares of Chevron during the 4th quarter worth approximately $2,902,007,000. Berkshire Hathaway Inc raised its stake in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares during the last quarter. Capital World Investors raised its stake in Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after purchasing an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after purchasing an additional 4,596,584 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $156.75 on Wednesday. The stock’s 50-day simple moving average is $159.11 and its 200-day simple moving average is $154.82. The firm has a market capitalization of $288.89 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.55 EPS. As a group, equities research analysts forecast that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. Chevron’s dividend payout ratio is presently 59.98%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the sale, the director now directly owns 27,725 shares in the company, valued at $4,581,279. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron 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 in the company, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock worth $2,727,971 in the last quarter. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CVX shares. Mizuho increased their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Truist Financial increased their price target on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $186.95.

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.