Richardson Financial Services Inc. Takes Position in Chevron Co. (NYSE:CVX)

Richardson Financial Services Inc. purchased a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,972 shares of the oil and gas company’s stock, valued at approximately $294,000.

Other hedge funds also recently bought and sold shares of the company. Renaissance Investment Group LLC grew its stake in 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 acquiring an additional 697 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Chevron in the 4th quarter worth approximately $254,000. Kapstone Financial Advisors LLC grew its stake in Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after buying an additional 211 shares in the last quarter. Guyasuta Investment Advisors Inc. grew its stake in Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after buying an additional 3,603 shares in the last quarter. Finally, Seven Mile Advisory grew its stake in Chevron by 9.8% in the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after buying an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Wells Fargo & Company boosted their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Mizuho boosted their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, HSBC boosted their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Trading Down 0.2 %

NYSE CVX traded down $0.27 during trading on Friday, hitting $152.57. The company had a trading volume of 6,159,138 shares, compared to its average volume of 6,205,760. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a market cap of $281.18 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 2.27 and a beta of 1.12. The company’s fifty day moving average is $159.95 and its 200-day moving average is $153.92.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period in the prior year, the business earned $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.27%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insiders Place Their Bets

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of the 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 completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently 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.