Buffington Mohr McNeal Buys 696 Shares of Chevron Co. (NYSE:CVX)

Buffington Mohr McNeal increased its stake in Chevron Co. (NYSE:CVX) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 28,522 shares of the oil and gas company’s stock after acquiring an additional 696 shares during the period. Buffington Mohr McNeal’s holdings in Chevron were worth $4,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of CVX. Marietta Wealth Management LLC bought a new stake in Chevron during the 4th quarter valued at $4,073,000. United Asset Strategies Inc. raised its holdings in Chevron by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 74,111 shares of the oil and gas company’s stock valued at $11,054,000 after acquiring an additional 1,854 shares during the period. Imprint Wealth LLC raised its holdings in Chevron by 1.8% during the 4th quarter. Imprint Wealth LLC now owns 17,437 shares of the oil and gas company’s stock valued at $2,601,000 after acquiring an additional 315 shares during the period. Peirce Capital Management LLC bought a new stake in Chevron during the 4th quarter valued at $545,000. Finally, Prosperitas Financial LLC raised its holdings in Chevron by 4.0% during the 4th quarter. Prosperitas Financial LLC now owns 18,268 shares of the oil and gas company’s stock valued at $2,725,000 after acquiring an additional 710 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CVX shares. Wells Fargo & Company boosted their target price on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Barclays initiated coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. Mizuho boosted their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. UBS Group boosted their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Raymond James boosted their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.55.

Chevron Stock Performance

NYSE CVX opened at $156.28 on Wednesday. The company has a 50-day simple moving average of $155.11 and a two-hundred day simple moving average of $151.83. 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. The firm has a market cap of $290.25 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 2.37 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period in the prior year, the business posted $4.09 earnings per share. The company’s revenue was down 16.5% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 13.28 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is 57.39%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were 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 directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% 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.