Capital Investment Counsel Inc Grows Holdings in Chevron Co. (NYSE:CVX)

Capital Investment Counsel Inc grew its stake in shares of Chevron Co. (NYSE:CVX) by 31.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,664 shares of the oil and gas company’s stock after purchasing an additional 1,837 shares during the quarter. Capital Investment Counsel Inc’s holdings in Chevron were worth $1,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new position in Chevron during the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV raised its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $33,000. Legacy Financial Group LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $43,000. Finally, Roble Belko & Company Inc grew its stake in Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CVX. TD Cowen upped their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday. Mizuho upped their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. DZ Bank cut shares of 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. Raymond James boosted their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Truist Financial dropped their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.25.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.14 during trading on Monday, reaching $166.03. The company had a trading volume of 884,739 shares, compared to its average volume of 8,383,457. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. 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 firm has a market capitalization of $308.36 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. The firm’s fifty day moving average is $156.58 and its 200 day moving average is $151.66.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the business earned $3.55 earnings per share. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 13.58 EPS for the current year.

Chevron Dividend Announcement

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

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Company 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.