Northcape Wealth Management LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Northcape Wealth Management LLC lifted its position in Chevron Co. (NYSE:CVX) by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,215 shares of the oil and gas company’s stock after purchasing an additional 203 shares during the quarter. Northcape Wealth Management LLC’s holdings in Chevron were worth $349,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. acquired a new stake in Chevron during the third quarter worth about $347,000. Ramirez Asset Management Inc. acquired a new stake in Chevron in the third quarter valued at approximately $78,000. Harbour Investments Inc. grew its holdings in Chevron by 7.6% in the third quarter. Harbour Investments Inc. now owns 18,354 shares of the oil and gas company’s stock valued at $3,095,000 after purchasing an additional 1,289 shares during the period. Cravens & Co Advisors LLC grew its holdings in Chevron by 3.5% in the third quarter. Cravens & Co Advisors LLC now owns 9,597 shares of the oil and gas company’s stock valued at $1,618,000 after purchasing an additional 321 shares during the period. Finally, VitalStone Financial LLC grew its holdings in Chevron by 5.8% in the third quarter. VitalStone Financial LLC now owns 1,432 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 78 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction 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 sale, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares of the company’s stock, valued at $4,581,279. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock worth $2,727,971 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Finally, Truist Financial lifted their price target on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $186.95.

Chevron Trading Down 1.5 %

Chevron stock traded down $2.40 during trading on Friday, reaching $154.31. 6,183,056 shares of the company were exchanged, compared to its average volume of 6,945,543. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company has a market capitalization of $284.39 billion, a P/E ratio of 14.20, a PEG ratio of 2.38 and a beta of 1.10. The stock’s 50 day simple moving average is $158.45 and its two-hundred day simple moving average is $154.93.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $48.42 billion. During the same quarter in the previous year, the business earned $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.23%. Chevron’s dividend payout ratio is currently 59.98%.

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.