Certuity LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

Certuity LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 12.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 119,203 shares of the oil and gas company’s stock after purchasing an additional 13,116 shares during the quarter. Chevron accounts for approximately 1.8% of Certuity LLC’s investment portfolio, making the stock its 13th biggest holding. Certuity LLC’s holdings in Chevron were worth $17,780,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new position in Chevron in the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $33,000. Legacy Financial Group LLC acquired a new stake in Chevron during the 3rd quarter worth $43,000. Finally, Roble Belko & Company Inc lifted its stake in shares of Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Chevron stock traded down $2.82 during midday trading on Tuesday, reaching $163.51. The stock had a trading volume of 3,468,454 shares, compared to its average volume of 8,392,471. 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 firm has a market capitalization of $303.68 billion, a PE ratio of 15.07, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The firm’s 50-day moving average price is $156.81 and its 200 day moving average price is $151.70.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm 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 quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 3.99%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CVX shares. Raymond James increased 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. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Royal Bank of Canada lifted their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Mizuho raised their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, UBS Group raised their target price 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. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.35.

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.