Ellenbecker Investment Group Has $638,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Ellenbecker Investment Group decreased its position in shares of Chevron Co. (NYSE:CVX) by 15.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,281 shares of the oil and gas company’s stock after selling 784 shares during the period. Ellenbecker Investment Group’s holdings in Chevron were worth $638,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Chevron by 0.3% during the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after acquiring an additional 458,080 shares during the period. Morgan Stanley boosted its holdings in shares of Chevron by 7.0% during the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after purchasing an additional 368,898 shares during the period. Northern Trust Corp boosted its holdings in Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after purchasing an additional 569,850 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Chevron by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after purchasing an additional 62,254 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock traded up $0.93 during mid-day trading on Tuesday, hitting $162.85. 5,537,181 shares of the company traded hands, compared to its average volume of 8,458,651. Chevron Co. has a one year low of $139.62 and a one year high of $172.38. The stock has a market cap of $302.46 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. 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 stock has a fifty day moving average price of $155.63 and a 200-day moving average price of $151.66.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating 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 business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the business posted $4.09 earnings per share. Chevron’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.00%. Chevron’s payout ratio is presently 57.39%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CVX shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research note on Tuesday, February 6th. Wells Fargo & Company increased their target price on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

About Chevron

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.