Goldstone Financial Group LLC Boosts Position in Chevron Co. (NYSE:CVX)

Goldstone Financial Group LLC grew its position in Chevron Co. (NYSE:CVX) by 21.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,977 shares of the oil and gas company’s stock after buying an additional 870 shares during the quarter. Goldstone Financial Group LLC’s holdings in Chevron were worth $721,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Seven Eight Capital LP purchased a new stake in Chevron in the 2nd quarter valued at approximately $1,335,000. Cowa LLC increased its position in Chevron by 8.5% during the 2nd quarter. Cowa LLC now owns 3,811 shares of the oil and gas company’s stock worth $596,000 after purchasing an additional 300 shares in the last quarter. Brighton Jones LLC lifted its holdings in Chevron by 6.8% in the 2nd quarter. Brighton Jones LLC now owns 24,672 shares of the oil and gas company’s stock valued at $3,859,000 after purchasing an additional 1,581 shares in the last quarter. Ieq Capital LLC raised its position in shares of Chevron by 9.0% in the second quarter. Ieq Capital LLC now owns 102,975 shares of the oil and gas company’s stock valued at $16,107,000 after buying an additional 8,518 shares during the last quarter. Finally, GM Advisory Group LLC boosted its position in Chevron by 0.5% during the second quarter. GM Advisory Group LLC now owns 20,961 shares of the oil and gas company’s stock worth $3,279,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $161.54 on Friday. The company’s 50-day moving average price is $153.84 and its two-hundred day moving average price is $151.06. The stock has a market cap of $290.30 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVX. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Barclays increased their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Raymond James lifted their price objective on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday. Finally, UBS Group increased their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

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.