SFE Investment Counsel Grows Stock Position in Chevron Co. (NYSE:CVX)

SFE Investment Counsel increased its position in Chevron Co. (NYSE:CVX) by 432.1% in the 4th quarter, HoldingsChannel reports. The fund owned 14,192 shares of the oil and gas company’s stock after buying an additional 11,525 shares during the quarter. SFE Investment Counsel’s holdings in Chevron were worth $2,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new stake in Chevron during the third quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV boosted its position in 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 valued at $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter valued at about $33,000. Worth Asset Management LLC bought a new stake in Chevron during the first quarter valued at about $36,000. Finally, Legacy Financial Group LLC acquired a new stake in Chevron in the third quarter worth about $43,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly 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 can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Chevron Trading Up 0.6 %

Shares of Chevron stock traded up $0.96 during trading hours on Thursday, hitting $157.36. The company’s stock had a trading volume of 2,992,899 shares, compared to its average volume of 8,500,965. 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 stock has a market cap of $292.26 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 2.30 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. The firm has a fifty day moving average of $155.19 and a 200-day moving average of $151.86.

Chevron (NYSE:CVX) last posted 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 return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the previous year, the business earned $4.09 EPS. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. Research analysts forecast that Chevron Co. will post 13.56 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is presently 57.39%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CVX. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Wells Fargo & Company lifted their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Tuesday, February 6th. Raymond James boosted their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Truist Financial cut their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

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.