SageView Advisory Group LLC Purchases 2,031 Shares of Chevron Co. (NYSE:CVX)

SageView Advisory Group LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 16.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,641 shares of the oil and gas company’s stock after buying an additional 2,031 shares during the period. SageView Advisory Group LLC’s holdings in Chevron were worth $2,121,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CVX. 3Chopt Investment Partners LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $1,463,000. Keystone Financial Group lifted its stake in Chevron by 7.1% during the fourth quarter. Keystone Financial Group now owns 16,889 shares of the oil and gas company’s stock worth $2,446,000 after purchasing an additional 1,117 shares during the last quarter. Savvy Advisors Inc. boosted its holdings in shares of Chevron by 145.9% in the 4th quarter. Savvy Advisors Inc. now owns 14,155 shares of the oil and gas company’s stock valued at $2,050,000 after purchasing an additional 8,398 shares in the last quarter. Stamos Capital Partners L.P. increased its stake in shares of Chevron by 0.6% in the 4th quarter. Stamos Capital Partners L.P. now owns 87,170 shares of the oil and gas company’s stock valued at $12,626,000 after purchasing an additional 500 shares during the last quarter. Finally, Brogan Financial Inc. raised its holdings in shares of Chevron by 18.0% during the 4th quarter. Brogan Financial Inc. now owns 3,089 shares of the oil and gas company’s stock worth $447,000 after buying an additional 471 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CVX shares. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $160.00 to $143.00 in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $172.20.

Chevron Stock Performance

Shares of CVX stock opened at $135.49 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The business’s 50 day simple moving average is $155.34 and its 200 day simple moving average is $153.81. The stock has a market capitalization of $238.54 billion, a PE ratio of 13.94, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business earned $3.45 earnings per share. As a group, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 5.05%. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company 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.