Chevron Co. (CVX) Position Boosted by Tower Bridge Advisors

Tower Bridge Advisors increased its holdings in shares of Chevron Co. (NYSE:CVX) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,989 shares of the oil and gas company’s stock after buying an additional 1,625 shares during the quarter. Tower Bridge Advisors’ holdings in Chevron were worth $11,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Acrospire Investment Management LLC raised its holdings in shares of Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 800 shares during the period. Accurate Investment Solutions Inc. raised its holdings in shares of Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 502 shares during the period. Ffcm LLC raised its holdings in shares of Chevron by 121.1% in the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after purchasing an additional 822 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in shares of Chevron in the 2nd quarter worth about $160,000. Finally, Intellectus Partners LLC raised its holdings in shares of Chevron by 1.0% in the 2nd quarter. Intellectus Partners LLC now owns 1,557 shares of the oil and gas company’s stock worth $162,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 64.98% of the company’s stock.

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Shares of NYSE CVX opened at $114.76 on Monday. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.88. The company has a quick ratio of 0.83, a current ratio of 1.03 and a debt-to-equity ratio of 0.22. The company has a market cap of $219,220.64, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 2.26 and a beta of 1.16.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.22%. The business had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. During the same quarter last year, the business earned $0.22 EPS. Chevron’s revenue for the quarter was up 19.4% compared to the same quarter last year. equities analysts expect that Chevron Co. will post 6.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio (DPR) is 121.08%.

A number of research firms have recently commented on CVX. Vetr upgraded Chevron from a “hold” rating to a “buy” rating and set a $117.38 price objective on the stock in a report on Tuesday, April 3rd. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a report on Thursday, January 4th. They noted that the move was a valuation call. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Wells Fargo cut their price objective on Chevron from $125.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Chevron has an average rating of “Buy” and a consensus target price of $129.79.

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About Chevron

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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