CWA Asset Management Group LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

CWA Asset Management Group LLC grew its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 4.6% during the fourth quarter, Holdings Channel reports. The firm owned 11,845 shares of the oil and gas company’s stock after purchasing an additional 521 shares during the quarter. CWA Asset Management Group LLC’s holdings in Chevron were worth $2,126,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Worth Asset Management LLC acquired a new position in shares of Chevron during the first quarter worth about $36,000. Hillsdale Investment Management Inc. grew its position in shares of Chevron by 127.3% during the third quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock worth $54,000 after buying an additional 210 shares in the last quarter. CarsonAllaria Wealth Management Ltd. boosted its holdings in Chevron by 65.9% in the third quarter. CarsonAllaria Wealth Management Ltd. now owns 423 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 168 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its holdings in Chevron by 275.0% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 600 shares of the oil and gas company’s stock valued at $86,000 after purchasing an additional 440 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC boosted its holdings in Chevron by 15.5% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 610 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 82 shares in the last quarter. 69.37% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 1.3 %

NYSE:CVX opened at $152.34 on Friday. The stock has a fifty day moving average price of $169.06 and a two-hundred day moving average price of $169.38. The stock has a market capitalization of $290.46 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. Chevron Co. has a 1 year low of $132.54 and a 1 year high of $189.68.

Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by ($0.07). The business had revenue of $56.47 billion during the quarter, compared to analysts’ expectations of $53.97 billion. Chevron had a return on equity of 23.52% and a net margin of 14.40%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.56 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 14.87 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were given a $1.51 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 annualized dividend and a yield of 3.96%. Chevron’s dividend payout ratio is presently 33.04%.

Chevron announced that its board has authorized a stock buyback plan on Wednesday, January 25th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 21.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVX shares. Mizuho reaffirmed a “neutral” rating and issued a $206.00 price target on shares of Chevron in a report on Friday. Wells Fargo & Company lowered their price target on Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. Cowen lowered their price target on Chevron from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, February 24th. Barclays increased their price objective on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Finally, StockNews.com started coverage on Chevron in a report on Thursday. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $189.50.

Insider Buying and Selling at Chevron

In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total value of $3,343,220.00. Following the sale, the vice president now owns 3,967 shares of the company’s stock, valued at $674,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by corporate insiders.

Chevron Profile

(Get Rating)

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.