Peirce Capital Management LLC Takes Position in Chevron Co. (NYSE:CVX)

Peirce Capital Management LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,652 shares of the oil and gas company’s stock, valued at approximately $545,000. Chevron accounts for about 0.3% of Peirce Capital Management LLC’s holdings, making the stock its 22nd biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Prosperitas Financial LLC increased its stake in shares of Chevron by 4.0% in the 4th quarter. Prosperitas Financial LLC now owns 18,268 shares of the oil and gas company’s stock worth $2,725,000 after purchasing an additional 710 shares in the last quarter. SVB Wealth LLC increased its stake in Chevron by 0.4% in the 4th quarter. SVB Wealth LLC now owns 65,333 shares of the oil and gas company’s stock worth $9,745,000 after buying an additional 241 shares in the last quarter. First American Trust FSB increased its stake in Chevron by 36.1% in the 4th quarter. First American Trust FSB now owns 5,921 shares of the oil and gas company’s stock worth $883,000 after buying an additional 1,572 shares in the last quarter. Crescent Grove Advisors LLC increased its stake in Chevron by 18.3% in the 4th quarter. Crescent Grove Advisors LLC now owns 5,521 shares of the oil and gas company’s stock worth $824,000 after buying an additional 853 shares in the last quarter. Finally, Emfo LLC increased its stake in Chevron by 19.4% in the 4th quarter. Emfo LLC now owns 12,304 shares of the oil and gas company’s stock worth $1,835,000 after buying an additional 2,000 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were 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 of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by insiders.

Chevron Trading Down 0.8 %

CVX stock opened at $156.28 on Wednesday. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.54. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $155.11 and its 200-day simple moving average is $151.83. The firm has a market cap of $290.25 billion, a P/E ratio of 13.76, a PEG ratio of 2.37 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the firm earned $4.09 EPS. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 13.28 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s dividend payout ratio is presently 57.39%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Royal Bank of Canada increased their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Wells Fargo & Company increased their price target on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $183.55.

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.