Buckhead Capital Management LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Buckhead Capital Management LLC raised its stake in Chevron Co. (NYSE:CVX) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,808 shares of the oil and gas company’s stock after acquiring an additional 1,701 shares during the period. Chevron comprises about 2.3% of Buckhead Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Buckhead Capital Management LLC’s holdings in Chevron were worth $6,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of CVX. Picton Mahoney Asset Management acquired a new position in shares of Chevron during the third quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV lifted 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 valued at $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter valued at $33,000. Legacy Financial Group LLC acquired a new position in shares of Chevron during the third quarter valued at $43,000. Finally, Roble Belko & Company Inc lifted 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 valued at $51,000 after acquiring an additional 150 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 1.0 %

NYSE:CVX traded down $1.64 on Wednesday, hitting $159.63. The stock had a trading volume of 7,712,057 shares, compared to its average volume of 8,445,480. The business’s fifty day moving average is $156.96 and its 200 day moving average is $151.68. The company has a market cap of $296.48 billion, a PE ratio of 14.69, a P/E/G ratio of 2.43 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last posted its 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. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the company earned $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 13.71 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders 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 4.08%. Chevron’s dividend payout ratio is presently 59.98%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial cut their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Monday, January 8th. Barclays assumed coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, HSBC increased their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $185.35.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.