Bourgeon Capital Management LLC Acquires 2,477 Shares of Chevron Co. (NYSE:CVX)

Bourgeon Capital Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 24.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,427 shares of the oil and gas company’s stock after buying an additional 2,477 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Chevron were worth $1,854,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CVX. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in 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 purchasing an additional 80 shares during the period. DHJJ Financial Advisors Ltd. bought a new position in Chevron during the third quarter valued at $35,000. Valued Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth $33,000. Finally, Worth Asset Management LLC bought a new stake in shares of Chevron in the first quarter valued at $36,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Truist Financial dropped their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. UBS Group lifted their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.55.

Chevron Stock Performance

NYSE CVX opened at $156.83 on Tuesday. The firm has a market cap of $291.28 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.40 and a beta of 1.12. The company has a 50-day simple moving average of $155.03 and a two-hundred day simple moving average of $151.92. 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 12-month low of $139.62 and a 12-month high of $172.54.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.09 earnings per share. On average, equities analysts forecast that Chevron Co. will post 13.24 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. Chevron’s payout ratio is currently 57.39%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

Chevron Company 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.