Cox Capital Mgt LLC Cuts Stake in Chevron Co. (NYSE:CVX)

Cox Capital Mgt LLC cut its stake in Chevron Co. (NYSE:CVX) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,834 shares of the oil and gas company’s stock after selling 193 shares during the quarter. Chevron makes up approximately 1.8% of Cox Capital Mgt LLC’s portfolio, making the stock its 22nd largest holding. Cox Capital Mgt LLC’s holdings in Chevron were worth $2,873,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. Laurel Wealth Advisors LLC lifted its holdings in Chevron by 5.1% in the 4th quarter. Laurel Wealth Advisors LLC now owns 25,924 shares of the oil and gas company’s stock valued at $3,755,000 after purchasing an additional 1,259 shares in the last quarter. Meridian Financial Partners LLC raised its position in shares of Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after buying an additional 67 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Chevron by 41.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 16,348 shares of the oil and gas company’s stock worth $2,368,000 after buying an additional 4,764 shares in the last quarter. Park Avenue Securities LLC boosted its position in Chevron by 20.2% during the fourth quarter. Park Avenue Securities LLC now owns 84,765 shares of the oil and gas company’s stock worth $12,277,000 after acquiring an additional 14,245 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its stake in Chevron by 24.7% during the 4th quarter. Kathmere Capital Management LLC now owns 2,759 shares of the oil and gas company’s stock valued at $400,000 after acquiring an additional 547 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Wells Fargo & Company boosted their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada raised their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $174.87.

Chevron Price Performance

Chevron stock opened at $158.25 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $153.78 and a 200-day simple moving average of $150.95. The stock has a market cap of $284.39 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the previous year, the business earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. Chevron’s dividend payout ratio is presently 71.65%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

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.