IAM Advisory LLC grew its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,627 shares of the oil and gas company's stock after acquiring an additional 265 shares during the quarter. Chevron comprises about 0.5% of IAM Advisory LLC's holdings, making the stock its 29th largest position. IAM Advisory LLC's holdings in Chevron were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Global Wealth Strategies & Associates acquired a new position in shares of Chevron during the 4th quarter valued at about $46,000. Diversified Trust Co increased its position in Chevron by 1.8% during the 4th quarter. Diversified Trust Co now owns 45,477 shares of the oil and gas company's stock worth $8,162,000 after purchasing an additional 806 shares in the last quarter. Fenimore Asset Management Inc. acquired a new stake in Chevron during the 4th quarter worth approximately $243,000. AHL Investment Management Inc. increased its position in Chevron by 0.9% during the 4th quarter. AHL Investment Management Inc. now owns 14,309 shares of the oil and gas company's stock worth $2,568,000 after purchasing an additional 131 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. increased its position in Chevron by 14.6% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,078 shares of the oil and gas company's stock worth $373,000 after purchasing an additional 264 shares in the last quarter. Institutional investors and hedge funds own 69.37% of the company's stock.
Get Chevron alerts:Insider Buying and Selling
In related news, VP Rhonda J. Morris sold 19,666 shares of the firm's stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the transaction, the vice president now directly owns 3,967 shares in the company, valued at $674,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CVX. Raymond James dropped their target price on shares of Chevron from $215.00 to $212.00 and set an "outperform" rating for the company in a research report on Monday, January 30th. HSBC increased their target price on shares of Chevron to $187.00 in a research report on Friday, December 2nd. Wells Fargo & Company dropped their target price on shares of Chevron from $204.00 to $199.00 and set an "overweight" rating for the company in a research report on Thursday, March 2nd. BNP Paribas downgraded shares of Chevron from a "neutral" rating to an "underperform" rating and set a $190.00 price objective for the company. in a research report on Wednesday, December 14th. Finally, Barclays increased their price objective on shares of Chevron from $196.00 to $212.00 and gave the company an "overweight" rating in a research report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $189.50.
Chevron Stock Performance
Chevron stock opened at $156.06 on Friday. The stock has a market cap of $297.55 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of 0.74 and a beta of 1.16. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $167.05 and a 200-day moving average of $169.40. Chevron Co. has a 52 week low of $132.54 and a 52 week high of $189.68.
Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing the consensus estimate of $4.16 by ($0.07). The business had revenue of $56.47 billion for the quarter, compared to analysts' expectations of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.56 earnings per share. On average, analysts expect that Chevron Co. will post 14.73 EPS for the current fiscal year.
Chevron declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 25th that permits the company to buyback $75.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 21.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
Chevron Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, February 15th. This is a boost from Chevron's previous quarterly dividend of $1.42. This represents a $6.04 annualized dividend and a yield of 3.87%. Chevron's dividend payout ratio (DPR) is 33.04%.
About Chevron
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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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