Costello Asset Management INC Acquires 251 Shares of Chevron Co. (NYSE:CVX)

Costello Asset Management INC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,890 shares of the oil and gas company’s stock after buying an additional 251 shares during the period. Costello Asset Management INC’s holdings in Chevron were worth $878,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CVX. Cantor Fitzgerald Investment Advisor L.P increased its stake in Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after purchasing an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC increased its stake in Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 1,476 shares in the last quarter. GQG Partners LLC increased its stake in Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after purchasing an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC increased its stake in Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after purchasing an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after purchasing an additional 250,840 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 business’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 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $158.96 on Friday. The company has a market capitalization of $295.23 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 2.40 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The company has a 50-day simple moving average of $154.92 and a 200 day simple moving average of $152.14. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.88.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.09 EPS. On average, sell-side analysts predict that Chevron Co. will post 13.24 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.10%. Chevron’s payout ratio is 57.39%.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, January 8th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. Royal Bank of Canada increased their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $170.00 to $195.00 in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.60.

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.