Motco Buys 1,263 Shares of Chevron Co. (NYSE:CVX)

Motco grew its stake in shares of Chevron Co. (NYSE:CVX) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,800 shares of the oil and gas company’s stock after purchasing an additional 1,263 shares during the quarter. Motco’s holdings in Chevron were worth $9,255,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Roffman Miller Associates Inc. PA bought a new stake in Chevron during the 4th quarter valued at about $27,000. Price Wealth LLC lifted its position in Chevron by 105.8% in the 4th quarter. Price Wealth LLC now owns 284 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 146 shares in the last quarter. Birch Capital Management LLC bought a new position in Chevron in the 4th quarter valued at approximately $45,000. Quantum Capital Management bought a new position in Chevron in the 3rd quarter valued at approximately $51,000. Finally, Lenox Wealth Advisors LLC boosted its stake in Chevron by 54.6% during the 4th quarter. Lenox Wealth Advisors LLC now owns 433 shares of the oil and gas company’s stock valued at $52,000 after purchasing an additional 153 shares during the last quarter. 65.51% of the stock is owned by hedge funds and other institutional investors.

Shares of CVX opened at $110.08 on Friday. The company has a market capitalization of $211.13 billion, a PE ratio of 72.90, a price-to-earnings-growth ratio of 2.63 and a beta of 1.00. The company has a current ratio of 1.12, a quick ratio of 0.93 and a debt-to-equity ratio of 0.16. Chevron Co. has a 12-month low of $105.40 and a 12-month high of $127.34. The business’s 50 day moving average is $114.50 and its 200 day moving average is $117.62.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.02. The firm had revenue of $36.35 billion for the quarter, compared to analysts’ expectations of $38.98 billion. Chevron had a return on equity of 8.14% and a net margin of 2.00%. The company’s quarterly revenue was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.95 earnings per share. Equities research analysts predict that Chevron Co. will post 7.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $1.29 per share. This is an increase from Chevron’s previous quarterly dividend of $1.19. This represents a $5.16 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is presently 75.92%.

In other Chevron news, CEO Michael K. Wirth sold 67,500 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $121.07, for a total transaction of $8,172,225.00. Following the completion of the sale, the chief executive officer now directly owns 33,750 shares in the company, valued at approximately $4,086,112.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Rhonda J. Morris sold 7,800 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $119.68, for a total value of $933,504.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Several research analysts have recently weighed in on the company. Credit Suisse Group decreased their price target on Chevron from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Bank of America cut Chevron from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 7th. HSBC reiterated a “neutral” rating and issued a $115.00 price objective on shares of Chevron in a report on Wednesday. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and set a $137.00 price objective for the company in a report on Thursday, January 23rd. Finally, Cowen decreased their target price on Chevron from $134.00 to $127.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $136.50.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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