Castle Wealth Management LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Castle Wealth Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 36.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,474 shares of the oil and gas company’s stock after buying an additional 1,467 shares during the period. Castle Wealth Management LLC’s holdings in Chevron were worth $817,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after acquiring an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC raised its position in Chevron by 25.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 1,476 shares during the period. GQG Partners LLC lifted 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 worth $6,598,000 after purchasing an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC boosted its position in Chevron by 43.5% during 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 buying an additional 1,770 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Chevron by 13.8% during 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 buying an additional 250,840 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Chevron Stock Up 1.5 %

Shares of CVX traded up $2.43 during mid-day trading on Friday, reaching $160.00. The company had a trading volume of 7,734,654 shares, compared to its average volume of 6,934,255. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.38. 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 market capitalization of $297.16 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The firm has a 50-day moving average price of $155.44 and a 200 day moving average price of $151.86.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The company 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%. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.09 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 13.27 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is presently 57.39%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVX. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Royal Bank of Canada increased their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Mizuho lifted their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Tuesday, February 6th. Finally, Raymond James boosted their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.75.

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.