Chevron Co. (NYSE:CVX) Stake Increased by Albion Financial Group UT

Albion Financial Group UT increased its holdings in shares of Chevron Co. (NYSE:CVX) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,175 shares of the oil and gas company’s stock after buying an additional 1,047 shares during the quarter. Albion Financial Group UT’s holdings in Chevron were worth $3,182,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Alana K. Knowles sold 2,800 shares of Chevron 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 completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders sold 16,746 shares of company stock valued at $2,727,971 in the last ninety days. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $156.75 on Thursday. The firm has a fifty day moving average of $158.99 and a 200-day moving average of $154.88. The stock has a market cap of $288.89 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. 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 (NYSE:CVX) last issued its 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. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the firm posted $3.55 EPS. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have commented on CVX. Raymond James boosted their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Barclays began coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Mizuho boosted their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. TD Cowen raised their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and fourteen have given 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 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.