Schwarz Dygos Wheeler Investment Advisors LLC Acquires New Stake in Chevron Co. (NYSE:CVX)

Schwarz Dygos Wheeler Investment Advisors LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,358 shares of the oil and gas company’s stock, valued at approximately $203,000.

Several other large investors also recently added to or reduced their stakes in CVX. International Assets Investment Management LLC grew its holdings in Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares in the last quarter. Morgan Stanley grew its holdings in shares of Chevron by 7.0% during the 3rd 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 during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter worth $348,789,000. Envestnet Asset Management Inc. grew its holdings in shares of Chevron by 36.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after purchasing an additional 1,230,619 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Chevron by 28.3% during the 3rd quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock worth $704,822,000 after purchasing an additional 923,119 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, February 6th. Mizuho increased their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Stock Up 0.4 %

CVX stock traded up $0.61 during mid-day trading on Friday, reaching $165.89. The company had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a market capitalization of $308.10 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. The firm has a fifty day simple moving average of $156.58 and a 200 day simple moving average of $151.73.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the company earned $3.55 EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Analysts forecast that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. Chevron’s dividend payout ratio is presently 59.98%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

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.