PSI Advisors LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

PSI Advisors LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,845 shares of the oil and gas company’s stock after buying an additional 795 shares during the period. PSI Advisors LLC’s holdings in Chevron were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Windsor Advisory Group LLC grew its position in Chevron by 24.0% in the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 720 shares in the last quarter. Renaissance Investment Group LLC grew its position in Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares in the last quarter. Altrius Capital Management Inc grew its position in Chevron by 2.1% in the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after acquiring an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Chevron in the fourth quarter worth $254,000. Finally, Strategic Financial Concepts LLC grew its position in Chevron by 9.0% in the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after acquiring an additional 476 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Wells Fargo & Company upped their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Raymond James boosted their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Mizuho boosted their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Finally, DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research note on Tuesday, February 6th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Trading Up 1.5 %

CVX stock traded up $2.43 during trading on Friday, reaching $160.00. The company had a trading volume of 7,734,654 shares, compared to its average volume of 6,934,255. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.38. The company has a market cap of $297.16 billion, a P/E ratio of 14.08, a PEG ratio of 2.41 and a beta of 1.12. The business has a 50 day moving average of $155.44 and a 200 day moving average of $151.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the prior year, the firm earned $4.09 earnings per share. Chevron’s revenue was down 16.5% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is 57.39%.

Insiders Place Their Bets

In other Chevron 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 value of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.