Johnson Financial Group Inc. Raises Holdings in Chevron Co. (NYSE:CVX)

Johnson Financial Group Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 60.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,475 shares of the oil and gas company’s stock after purchasing an additional 5,061 shares during the quarter. Johnson Financial Group Inc.’s holdings in Chevron were worth $2,010,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in shares of Chevron during the third quarter worth about $26,000. Bare Financial Services Inc acquired a new stake in shares of Chevron during the fourth quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth about $33,000. Finally, Roble Belko & Company Inc boosted its stake in shares of Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron 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 in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction 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 transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock worth $3,176,223 in the last quarter. 0.20% of the stock is owned by insiders.

Chevron Price Performance

Shares of CVX traded up $0.77 during mid-day trading on Friday, reaching $157.71. 4,476,839 shares of the company’s stock were exchanged, compared to its average volume of 8,141,585. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $160.22 and a two-hundred day simple moving average of $152.48. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a market cap of $290.65 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.32 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $3.55 EPS. On average, sell-side analysts predict that Chevron Co. will post 13.57 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Mizuho raised their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Raymond James raised their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $186.10.

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.