Chevron Co. (NYSE:CVX) Shares Bought by Fountainhead AM LLC

Fountainhead AM LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,234 shares of the oil and gas company’s stock after buying an additional 194 shares during the quarter. Fountainhead AM LLC’s holdings in Chevron were worth $333,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Windsor Advisory Group LLC raised its holdings in shares of Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares in the last quarter. Renaissance Investment Group LLC raised its holdings in shares of Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares in the last quarter. Altrius Capital Management Inc raised its holdings in shares of Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 434 shares in the last quarter. Camelot Portfolios LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $254,000. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Chevron by 9.0% in the 3rd quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after purchasing an additional 476 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVX. Wells Fargo & Company raised their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Mizuho increased their target price 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. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of NYSE:CVX traded up $0.93 during midday trading on Tuesday, hitting $162.85. The stock had a trading volume of 5,533,624 shares, compared to its average volume of 8,459,302. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.38. The stock has a 50 day moving average price of $155.88 and a two-hundred day moving average price of $151.66. The company has a market capitalization of $302.46 billion, a PE ratio of 14.34, a P/E/G ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.09 earnings per share. As a group, equities analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.00%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is presently 57.39%.

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.