Chevron Co. (NYSE:CVX) Shares Bought by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 198.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 23,864 shares of the oil and gas company’s stock after buying an additional 15,864 shares during the quarter. Chevron makes up about 1.4% of Mach 1 Financial Group LLC’s holdings, making the stock its 18th biggest holding. Mach 1 Financial Group LLC’s holdings in Chevron were worth $3,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Windsor Advisory Group LLC boosted its position in shares of Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after buying an additional 720 shares during the period. Renaissance Investment Group LLC boosted its holdings 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 valued at $923,000 after purchasing an additional 697 shares during the period. Altrius Capital Management Inc boosted its holdings 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 valued at $3,597,000 after purchasing an additional 434 shares during the period. Camelot Portfolios LLC purchased a new position in Chevron in the fourth quarter valued at $254,000. Finally, Kapstone Financial Advisors LLC boosted its holdings in Chevron by 5.3% in the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of recent analyst reports. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. UBS Group lifted their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, TD Cowen lifted their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Stock Performance

CVX traded down $5.06 during trading on Tuesday, reaching $161.27. The company’s stock had a trading volume of 8,382,708 shares, compared to its average volume of 8,454,227. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company’s fifty day moving average price is $156.96 and its 200-day moving average price is $151.68. The company has a market capitalization of $299.52 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the previous year, the company earned $3.55 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.