Prosperitas Financial LLC Has $2.73 Million Stock Position in Chevron Co. (NYSE:CVX)

Prosperitas Financial LLC grew its position in Chevron Co. (NYSE:CVX) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,268 shares of the oil and gas company’s stock after buying an additional 710 shares during the period. Chevron accounts for approximately 2.0% of Prosperitas Financial LLC’s investment portfolio, making the stock its 17th largest holding. Prosperitas Financial LLC’s holdings in Chevron were worth $2,725,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NCM Capital Management LLC boosted its holdings in shares of Chevron by 1.2% during the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after purchasing an additional 65 shares during the period. Sweet Financial Partners LLC boosted its holdings in shares of Chevron by 0.7% during the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after purchasing an additional 65 shares during the period. Strategic Investment Advisors MI boosted its holdings in shares of Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 65 shares during the period. Alera Investment Advisors LLC raised its stake in Chevron by 1.0% in the third quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock worth $1,094,000 after buying an additional 67 shares in the last quarter. Finally, Global Trust Asset Management LLC raised its stake in Chevron by 1.0% in the third quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 67 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVX. Royal Bank of Canada raised their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Mizuho lifted their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, UBS Group lifted their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.55.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock traded down $0.93 during trading on Tuesday, reaching $156.66. The company’s stock had a trading volume of 1,574,766 shares, compared to its average volume of 8,544,835. The company has a 50-day moving average price of $155.03 and a two-hundred day moving average price of $151.92. The firm has a market cap of $290.96 billion, a PE ratio of 13.77, a P/E/G ratio of 2.40 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.54. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.09 EPS. On average, analysts forecast that Chevron Co. will post 13.24 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

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.