Bridge Creek Capital Management LLC Boosts Holdings in Chevron Co. (NYSE:CVX)

Bridge Creek Capital Management LLC grew its position in Chevron Co. (NYSE:CVX) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,518 shares of the oil and gas company’s stock after purchasing an additional 364 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Chevron were worth $3,710,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Norges Bank acquired a new position in Chevron during the 4th quarter valued at approximately $2,902,007,000. Berkshire Hathaway Inc grew its holdings in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after buying an additional 15,845,037 shares during the last quarter. Capital World Investors increased its position in shares of Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after acquiring an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after acquiring an additional 4,596,584 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Chevron by 15,548.2% during the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by insiders.

Chevron Price Performance

CVX traded down $1.36 during midday trading on Friday, hitting $155.28. 21,292,090 shares of the company traded hands, compared to its average volume of 6,185,036. The company has a market capitalization of $286.18 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.33 and a beta of 1.12. The business has a 50 day simple moving average of $159.25 and a two-hundred day simple moving average of $154.30. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company 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 firm posted $3.55 EPS. Chevron’s revenue was down 4.1% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. UBS Group raised their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. TD Cowen upped their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. HSBC raised their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $186.95.

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.