Naples Money Management LLC Buys New Shares in Chevron Co. (NYSE:CVX)

Naples Money Management LLC purchased a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,709 shares of the oil and gas company’s stock, valued at approximately $255,000.

Several other institutional investors also recently modified their holdings of CVX. NCM Capital Management LLC increased its holdings in shares of Chevron by 1.2% in the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after acquiring an additional 65 shares in the last quarter. Sweet Financial Partners LLC increased its stake in Chevron by 0.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after purchasing an additional 65 shares in the last quarter. Strategic Investment Advisors MI raised its holdings in Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after buying an additional 65 shares during the period. Global Trust Asset Management LLC lifted its stake in Chevron by 1.0% in the third quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after buying an additional 67 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC boosted its holdings in shares of Chevron by 1.4% in the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after buying an additional 68 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Raymond James boosted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Royal Bank of Canada lifted their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Stock Performance

Shares of NYSE CVX traded up $2.43 during trading hours on Friday, reaching $160.00. 7,592,840 shares of the stock were exchanged, compared to its average volume of 8,519,150. The stock’s fifty day simple moving average is $155.26 and its 200 day simple moving average is $151.90. The firm has a market capitalization of $297.16 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 2.36 and a beta of 1.12. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the firm earned $4.09 earnings per share. The company’s revenue was down 16.5% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 13.27 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.08%. Chevron’s payout ratio is 57.39%.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company’s stock.

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.