Telemus Capital LLC Raises Stake in Chevron Co. (NYSE:CVX)

Telemus Capital LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 37,148 shares of the oil and gas company’s stock after purchasing an additional 700 shares during the period. Telemus Capital LLC’s holdings in Chevron were worth $5,541,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GUNN & Co INVESTMENT MANAGEMENT INC. grew its position in Chevron by 796.5% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 15,599 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 13,859 shares during the last quarter. North Star Asset Management Inc. increased its stake in shares of Chevron by 1.4% during the fourth quarter. North Star Asset Management Inc. now owns 12,280 shares of the oil and gas company’s stock worth $1,832,000 after acquiring an additional 174 shares during the period. MCF Advisors LLC increased its stake in shares of Chevron by 4.3% during the fourth quarter. MCF Advisors LLC now owns 9,371 shares of the oil and gas company’s stock worth $1,398,000 after acquiring an additional 384 shares during the period. Capital Investment Advisory Services LLC increased its stake in shares of Chevron by 0.8% during the fourth quarter. Capital Investment Advisory Services LLC now owns 25,584 shares of the oil and gas company’s stock worth $3,816,000 after acquiring an additional 191 shares during the period. Finally, OLD National Bancorp IN increased its stake in shares of Chevron by 0.3% during the fourth quarter. OLD National Bancorp IN now owns 103,698 shares of the oil and gas company’s stock worth $15,468,000 after acquiring an additional 353 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of CVX opened at $162.01 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The company has a market capitalization of $300.90 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.36 and a beta of 1.12. The company’s 50 day simple moving average is $155.63 and its 200 day simple moving average is $151.66. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.38.

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. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the firm posted $4.09 earnings per share. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.02%. Chevron’s dividend payout ratio is 57.39%.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada boosted their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. Finally, Barclays started coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

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.