Cannell & Co. Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Cannell & Co. increased its position in shares of Chevron Co. (NYSE:CVX) by 48.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,256 shares of the oil and gas company’s stock after purchasing an additional 73,306 shares during the period. Chevron makes up approximately 1.1% of Cannell & Co.’s portfolio, making the stock its 28th largest position. Cannell & Co.’s holdings in Chevron were worth $33,301,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH grew its position in Chevron by 4.8% during the third quarter. Trust Co. of Toledo NA OH now owns 61,737 shares of the oil and gas company’s stock worth $10,410,000 after buying an additional 2,837 shares during the period. Uncommon Cents Investing LLC grew its position in Chevron by 2.1% during the third quarter. Uncommon Cents Investing LLC now owns 12,072 shares of the oil and gas company’s stock worth $2,036,000 after buying an additional 250 shares during the period. Evanson Asset Management LLC grew its position in shares of Chevron by 8.2% in the third quarter. Evanson Asset Management LLC now owns 17,236 shares of the oil and gas company’s stock valued at $2,906,000 after purchasing an additional 1,299 shares during the last quarter. Charles Schwab Trust Co grew its position in shares of Chevron by 64.7% in the third quarter. Charles Schwab Trust Co now owns 26,474 shares of the oil and gas company’s stock valued at $4,464,000 after purchasing an additional 10,396 shares during the last quarter. Finally, Lineweaver Wealth Advisors LLC grew its position in shares of Chevron by 82.5% in the third quarter. Lineweaver Wealth Advisors LLC now owns 12,073 shares of the oil and gas company’s stock valued at $2,036,000 after purchasing an additional 5,459 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CVX shares. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. 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 report on Monday, January 8th. Royal Bank of Canada increased their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Mizuho increased their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s 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 SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Chevron Trading Down 1.1 %

NYSE:CVX traded down $1.79 during trading hours on Wednesday, reaching $159.48. 2,346,547 shares of the company were exchanged, compared to its average volume of 8,377,023. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm has a market cap of $296.20 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.43 and a beta of 1.12. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The stock has a 50 day simple moving average of $156.96 and a 200 day simple moving average of $151.68.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion for 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%. Chevron’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.55 earnings per share. As a group, analysts predict that Chevron Co. will post 13.71 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

About Chevron

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.