Navellier & Associates Inc. Increases Position in Chevron Co. (NYSE:CVX)

Navellier & Associates Inc. increased its stake in Chevron Co. (NYSE:CVX) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,051 shares of the oil and gas company’s stock after purchasing an additional 1,741 shares during the quarter. Navellier & Associates Inc.’s holdings in Chevron were worth $2,904,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVX. McAdam LLC increased its holdings in shares of Chevron by 1.9% in the 3rd quarter. McAdam LLC now owns 3,672 shares of the oil and gas company’s stock valued at $541,000 after purchasing an additional 68 shares in the last quarter. Greystone Financial Group LLC increased its holdings in shares of Chevron by 2.5% in the 3rd quarter. Greystone Financial Group LLC now owns 54,676 shares of the oil and gas company’s stock valued at $8,052,000 after purchasing an additional 1,348 shares in the last quarter. Boyd Watterson Asset Management LLC OH increased its holdings in shares of Chevron by 1.5% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 18,973 shares of the oil and gas company’s stock valued at $2,794,000 after purchasing an additional 281 shares in the last quarter. Asset Planning Services Inc. LA ADV increased its holdings in shares of Chevron by 1.8% in the 3rd quarter. Asset Planning Services Inc. LA ADV now owns 43,765 shares of the oil and gas company’s stock valued at $6,445,000 after purchasing an additional 775 shares in the last quarter. Finally, PSI Advisors LLC increased its holdings in shares of Chevron by 1.9% in the 3rd quarter. PSI Advisors LLC now owns 12,946 shares of the oil and gas company’s stock valued at $1,907,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVX. UBS Group cut their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Finally, Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Price Performance

Chevron stock opened at $156.92 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market capitalization of $282.00 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. The firm’s 50-day moving average is $151.97 and its two-hundred day moving average is $150.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm earned $3.45 EPS. Equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.36%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

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.