Cox Capital Mgt LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Cox Capital Mgt LLC boosted its position in Chevron Co. (NYSE:CVX – Get Rating) by 1.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,094 shares of the oil and gas company’s stock after purchasing an additional 145 shares during the period. Cox Capital Mgt LLC’s holdings in Chevron were worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC raised its holdings in Chevron by 600.7% during the 2nd quarter. Renaissance Technologies LLC now owns 5,786,295 shares of the oil and gas company’s stock valued at $837,740,000 after acquiring an additional 4,960,475 shares during the period. FMR LLC raised its holdings in Chevron by 62.3% during the 2nd quarter. FMR LLC now owns 11,343,585 shares of the oil and gas company’s stock valued at $1,642,325,000 after acquiring an additional 4,354,660 shares during the period. New England Asset Management Inc. raised its holdings in Chevron by 106.3% during the 3rd quarter. New England Asset Management Inc. now owns 4,439,965 shares of the oil and gas company’s stock valued at $637,889,000 after acquiring an additional 2,288,050 shares during the period. Legal & General Group Plc raised its holdings in Chevron by 16.3% during the 2nd quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock valued at $1,964,620,000 after acquiring an additional 1,899,104 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Chevron by 7.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 12,052,751 shares of the oil and gas company’s stock valued at $1,731,739,000 after acquiring an additional 847,841 shares during the period. Hedge funds and other institutional investors own 69.37% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $152.34 on Friday. The company has a 50-day simple moving average of $169.06 and a two-hundred day simple moving average of $169.44. The company has a quick ratio of 1.23, a current ratio of 1.47 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $132.54 and a 12-month high of $189.68. The firm has a market cap of $290.46 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.73 and a beta of 1.16.

Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings results 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). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The business had revenue of $56.47 billion for the quarter, compared to analysts’ expectations of $53.97 billion. During the same quarter in the previous year, the company earned $2.56 earnings per share. The business’s quarterly revenue was up 17.1% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 14.73 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were issued a dividend of $1.51 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Wednesday, February 15th. Chevron’s dividend payout ratio is currently 33.04%.

Chevron announced that its board has authorized a share buyback program on Wednesday, January 25th that permits the company to buyback $75.00 billion in 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 an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CVX shares. Morgan Stanley lowered their target price on shares of Chevron from $197.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, January 30th. Barclays upped their price target on shares of Chevron from $196.00 to $212.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Citigroup upped their price target on shares of Chevron from $155.00 to $180.00 in a report on Tuesday, November 22nd. HSBC upped their price target on shares of Chevron to $187.00 in a report on Friday, December 2nd. Finally, Cowen decreased their price target on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus price target of $189.50.

Insider Transactions at Chevron

In other news, VP Rhonda J. Morris sold 19,666 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the completion of the sale, the vice president now directly owns 3,967 shares in the company, valued at $674,390. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by company insiders.

Chevron Company Profile

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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.