Chevron Co. (NYSE:CVX) is Kovack Advisors Inc.’s 9th Largest Position

Kovack Advisors Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 52.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,156 shares of the oil and gas company’s stock after purchasing an additional 23,415 shares during the quarter. Chevron accounts for approximately 1.3% of Kovack Advisors Inc.’s portfolio, making the stock its 9th largest position. Kovack Advisors Inc.’s holdings in Chevron were worth $10,751,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Bare Financial Services Inc purchased a new stake in Chevron in the fourth quarter worth $27,000. Frank Rimerman Advisors LLC purchased a new stake in Chevron in the fourth quarter worth $30,000. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth $33,000. Cooksen Wealth LLC purchased a new stake in shares of Chevron in the fourth quarter worth $40,000. Finally, Clear Investment Research LLC grew its stake in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVX. UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Raymond James increased their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. HSBC increased their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, TD Cowen increased their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Stock Down 0.0 %

NYSE CVX opened at $156.71 on Friday. The stock’s 50-day moving average price is $158.85 and its 200-day moving average price is $154.89. 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. The company has a market capitalization of $288.81 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 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 firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter last year, the company earned $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 annualized dividend 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%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was 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 in the company, valued at $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following 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. Over the last 90 days, insiders sold 16,746 shares of company stock worth $2,727,971. 0.20% of the stock is owned by corporate insiders.

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.