River Global Investors LLP Buys New Shares in Chevron Co. (NYSE:CVX)

River Global Investors LLP bought a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,000 shares of the oil and gas company’s stock, valued at approximately $4,474,000. Chevron comprises about 0.8% of River Global Investors LLP’s portfolio, making the stock its 28th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Windsor Advisory Group LLC increased its stake 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 valued at $627,000 after acquiring an additional 720 shares during the last quarter. Renaissance Investment Group LLC grew its stake in shares of Chevron by 12.7% during 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 buying an additional 697 shares during the last quarter. Altrius Capital Management Inc grew its stake in shares of Chevron by 2.1% during 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 buying an additional 434 shares during the last quarter. Camelot Portfolios LLC bought a new position in shares of Chevron during the fourth quarter valued at about $254,000. Finally, Kapstone Financial Advisors LLC grew its stake in shares of Chevron by 5.3% during 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 buying an additional 211 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Down 0.3 %

Shares of NYSE CVX traded down $0.48 on Friday, reaching $160.25. 11,664,505 shares of the company’s stock traded hands, compared to its average volume of 7,516,580. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The business’s 50 day simple moving average is $157.26 and its two-hundred day simple moving average is $151.76. The company has a market cap of $297.63 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11. 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 (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.55 EPS. As a group, equities research analysts forecast that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVX. Royal Bank of Canada raised their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Wells Fargo & Company increased their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Monday, January 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron 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.