Sand Hill Global Advisors LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

Sand Hill Global Advisors LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,739 shares of the oil and gas company’s stock after purchasing an additional 169 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Chevron were worth $9,209,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CVX. Norges Bank purchased a new stake in shares of Chevron during the fourth quarter worth approximately $2,902,007,000. Massachusetts Financial Services Co. MA raised its position in Chevron by 73,888.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after acquiring an additional 4,596,584 shares in the last quarter. International Assets Investment Management LLC raised its position in Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares in the last quarter. Morgan Stanley raised its position in Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after acquiring an additional 2,244,995 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in Chevron in the third quarter worth $348,789,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVX. Raymond James increased their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Wells Fargo & Company upped their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. TD Cowen upped their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. Finally, Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $186.10.

Chevron Trading Down 1.5 %

NYSE CVX traded down $2.40 during trading hours on Wednesday, hitting $157.57. 6,254,403 shares of the company’s stock were exchanged, compared to its average volume of 8,192,922. The business’s 50 day moving average is $160.08 and its 200-day moving average is $152.34. The firm has a market capitalization of $291.03 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the business posted $3.55 EPS. As a group, analysts anticipate that Chevron Co. will post 13.57 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. Chevron’s payout ratio is currently 59.98%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’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 sale, 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 is accessible through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,796 shares of company stock worth $2,575,361. 0.20% of the stock is currently owned by company insiders.

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.