Intech Investment Management LLC Acquires 1,239 Shares of Chevron Co. (NYSE:CVX)

Intech Investment Management LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,666 shares of the oil and gas company’s stock after purchasing an additional 1,239 shares during the period. Intech Investment Management LLC’s holdings in Chevron were worth $11,936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Capital Advisory LLC lifted its position in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares in the last quarter. Bare Financial Services Inc bought a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron during the fourth quarter worth $30,000. Cooksen Wealth LLC bought a new stake in Chevron during the fourth quarter worth $40,000. Finally, Clear Investment Research LLC lifted its stake in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock valued at $2,727,971 in the last quarter. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Mizuho upped their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. TD Cowen increased their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Wolfe Research initiated coverage on Chevron in a research note on Thursday. They issued a “peer perform” rating on the stock. 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 report on Monday, April 15th. Finally, Wells Fargo & Company boosted their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.22.

Chevron Price Performance

Shares of CVX traded down $2.82 during midday trading on Friday, reaching $159.15. The stock had a trading volume of 6,427,723 shares, compared to its average volume of 6,999,900. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $293.31 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 2.53 and a beta of 1.10. The company’s 50-day moving average is $157.34 and its 200 day moving average is $155.42. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.55 earnings per share. On average, equities analysts predict that Chevron Co. will post 12.6 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

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.