Channing Capital Management LLC Boosts Position in Chevron Co. (NYSE:CVX)

Channing Capital Management LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 26.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 60,263 shares of the oil and gas company’s stock after purchasing an additional 12,685 shares during the period. Channing Capital Management LLC’s holdings in Chevron were worth $8,989,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Strategic Investment Advisors MI boosted its position in Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 65 shares during the period. Regent Peak Wealth Advisors LLC boosted its holdings in shares of Chevron by 1.4% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after buying an additional 68 shares during the period. Octavia Wealth Advisors LLC grew its stake in Chevron by 1.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after buying an additional 68 shares during the last quarter. Investment Partners LTD. raised its holdings in Chevron by 0.8% in the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 68 shares during the period. Finally, ACT Wealth Management LLC raised its holdings in Chevron by 1.7% in the 4th quarter. ACT Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock worth $641,000 after acquiring an additional 70 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVX. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. HSBC raised their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Mizuho upped their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. TD Cowen raised their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Trading Down 0.3 %

Shares of CVX stock traded down $0.48 on Friday, reaching $160.25. 11,664,505 shares of the stock were exchanged, compared to its average volume of 7,516,580. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The stock has a market cap of $297.63 billion, a PE ratio of 14.74, a P/E/G ratio of 2.37 and a beta of 1.11. The stock has a 50 day moving average price of $157.26 and a 200 day moving average price of $151.53.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.55 EPS. Equities research analysts forecast that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.07%. Chevron’s payout ratio is presently 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

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.