Lockerman Financial Group Inc. Raises Position in Chevron Co. (NYSE:CVX)

Lockerman Financial Group Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,882 shares of the oil and gas company’s stock after acquiring an additional 105 shares during the period. Lockerman Financial Group Inc.’s holdings in Chevron were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Vanguard Group Inc. boosted its position in Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after buying an additional 458,080 shares during the period. Morgan Stanley grew its position in shares of Chevron by 7.0% during 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 purchasing an additional 2,244,995 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after buying an additional 368,898 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Chevron by 2.6% during the third quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after acquiring an additional 569,850 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of Chevron stock opened at $157.74 on Friday. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88. The stock’s fifty day moving average price is $151.60 and its 200-day moving average price is $152.67. The firm has a market cap of $292.97 billion, a P/E ratio of 13.89, a P/E/G ratio of 2.40 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the firm posted $4.09 EPS. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s payout ratio is 57.39%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective for the company. in a research report on Tuesday, January 16th. Mizuho upped their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Monday, January 8th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $180.39.

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.