Private Capital Management LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Private Capital Management LLC increased its position in Chevron Co. (NYSE:CVX) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,588 shares of the oil and gas company’s stock after acquiring an additional 625 shares during the quarter. Private Capital Management LLC’s holdings in Chevron were worth $2,737,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Chevron by 949.6% during the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after purchasing an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after buying an additional 2,432,756 shares during the last quarter. State Street Corp grew its position in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of Chevron by 22,996.9% in the fourth quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company’s stock worth $122,741,000 after purchasing an additional 843,756 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of CVX opened at $156.57 on Friday. The business has a 50-day simple moving average of $152.83 and a two-hundred day simple moving average of $151.34. The stock has a market cap of $281.36 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.46 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the firm posted $3.45 EPS. On average, analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.37%. Chevron’s payout ratio is 70.37%.

Chevron Company 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.