Capital Investment Counsel Inc Has $1.14 Million Stock Position in Chevron Co. (NYSE:CVX)

Capital Investment Counsel Inc grew its stake in Chevron Co. (NYSE:CVX) by 31.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,664 shares of the oil and gas company’s stock after buying an additional 1,837 shares during the quarter. Capital Investment Counsel Inc’s holdings in Chevron were worth $1,143,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CVX. International Assets Investment Management LLC increased its position in shares of Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after acquiring an additional 3,181,946 shares during the last quarter. Morgan Stanley grew its holdings in Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after buying an additional 2,244,995 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Chevron during the third quarter worth about $348,789,000. Envestnet Asset Management Inc. raised its stake in Chevron by 36.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after purchasing an additional 1,230,619 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Chevron by 28.3% in the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock valued at $704,822,000 after buying an additional 923,119 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CVX shares. UBS Group raised their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Barclays began coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Mizuho lifted their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Raymond James raised their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.25.

Chevron Price Performance

Shares of CVX stock traded up $0.14 during trading hours on Monday, reaching $166.03. The stock had a trading volume of 884,739 shares, compared to its average volume of 8,383,457. The stock’s fifty day simple moving average is $156.58 and its 200 day simple moving average is $151.66. The firm has a market capitalization of $308.36 billion, a PE ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. 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 results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $3.55 EPS. On average, equities research analysts predict that Chevron Co. will post 13.58 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

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.