Greenwood Capital Associates LLC Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Greenwood Capital Associates LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 19.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,068 shares of the oil and gas company’s stock after purchasing an additional 2,739 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Chevron were worth $2,785,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Rebalance LLC acquired a new position in Chevron in the fourth quarter valued at $26,000. NewSquare Capital LLC increased its stake in Chevron by 52.3% in the first quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 67 shares during the last quarter. Artemis Wealth Advisors LLC acquired a new position in Chevron in the first quarter valued at $33,000. Worth Asset Management LLC acquired a new position in Chevron in the first quarter valued at $36,000. Finally, Tobam acquired a new position in Chevron in the first quarter valued at $38,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the sale, the chief financial officer now directly owns 6,021 shares in the company, valued at approximately $987,444. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the transaction, the vice president now directly owns 1,718 shares in the company, valued at approximately $276,391.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction on Friday, August 11th. The shares were sold at an average price of $164.00, for a total value of $4,100,000.00. Following the transaction, the chief financial officer now owns 6,021 shares in the company, valued at $987,444. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CVX. Citigroup dropped their price target on Chevron from $180.00 to $170.00 in a research note on Tuesday, July 11th. StockNews.com began coverage on Chevron in a research note on Thursday, August 17th. They set a “hold” rating for the company. UBS Group upped their price target on Chevron from $202.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $165.00 to $180.00 in a research note on Thursday, June 1st. Finally, The Goldman Sachs Group upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $166.00 to $187.00 in a research note on Monday, July 31st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.28.

Chevron Stock Performance

NYSE:CVX traded up $0.29 during trading hours on Wednesday, reaching $160.25. 3,634,758 shares of the stock were exchanged, compared to its average volume of 7,965,349. The stock has a market capitalization of $299.23 billion, a P/E ratio of 10.15, a P/E/G ratio of 0.85 and a beta of 1.17. Chevron Co. has a 52 week low of $140.46 and a 52 week high of $189.68. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $158.11 and a 200-day simple moving average of $160.07.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.13. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The business had revenue of $48.90 billion for the quarter, compared to the consensus estimate of $48 billion. During the same quarter last year, the business posted $5.82 EPS. The business’s revenue was down 28.9% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 13.19 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, August 17th. Chevron’s dividend payout ratio is currently 38.30%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.