Obermeyer Wood Investment Counsel Lllp Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Obermeyer Wood Investment Counsel Lllp reduced its stake in shares of Chevron Co. (NYSE:CVX) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,781 shares of the oil and gas company’s stock after selling 5,401 shares during the quarter. Chevron makes up 1.3% of Obermeyer Wood Investment Counsel Lllp’s holdings, making the stock its 28th largest position. Obermeyer Wood Investment Counsel Lllp’s holdings in Chevron were worth $19,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Windsor Advisory Group LLC raised 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 buying an additional 720 shares during the last quarter. Renaissance Investment Group LLC raised its stake 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 buying an additional 697 shares during the last quarter. Altrius Capital Management Inc raised its stake in shares of 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 worth $3,597,000 after purchasing an additional 434 shares during the last quarter. Camelot Portfolios LLC purchased a new position in shares of Chevron in the fourth quarter worth about $254,000. Finally, Strategic Financial Concepts LLC raised its stake in shares of Chevron by 9.0% in the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after purchasing an additional 476 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVX. UBS Group raised their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Barclays assumed coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Royal Bank of Canada raised their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Mizuho raised their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Price Performance

NYSE CVX traded up $2.57 during mid-day trading on Friday, hitting $160.14. The stock had a trading volume of 1,409,472 shares, compared to its average volume of 8,431,626. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.38. The company has a market cap of $297.42 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 2.36 and a beta of 1.12. The company has a 50 day simple moving average of $155.26 and a 200 day simple moving average of $151.90. 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 released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the business posted $4.09 earnings per share. Chevron’s revenue was down 16.5% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.07%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

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.