Apexium Financial LP Raises Position in Chevron Co. (NYSE:CVX)

Apexium Financial LP lifted its stake in Chevron Co. (NYSE:CVX) by 92.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,659 shares of the oil and gas company’s stock after purchasing an additional 7,527 shares during the quarter. Apexium Financial LP’s holdings in Chevron were worth $2,268,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Rational Advisors LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC purchased a new position in Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the third quarter worth $31,000. Finally, Krane Funds Advisors LLC bought a new stake in shares of Chevron during the third quarter worth $47,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group upped their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Raymond James raised their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada increased their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $157.20 on Tuesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business’s fifty day simple moving average is $153.81 and its 200-day simple moving average is $151.11. 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 market cap of $282.50 billion, a PE ratio of 17.27, a PEG ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating 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 analysts’ expectations of $48.86 billion. During the same period last year, the business posted $3.05 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. Analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. Chevron’s dividend payout ratio is currently 71.65%.

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.