CSM Advisors LLC Raises Holdings in Chevron Co. (NYSE:CVX)

CSM Advisors LLC raised its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 18.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,566 shares of the oil and gas company's stock after acquiring an additional 16,855 shares during the period. CSM Advisors LLC's holdings in Chevron were worth $15,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. acquired a new stake in Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the 4th quarter valued at $29,000. Fairway Wealth LLC raised its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter worth $39,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Chevron in the 4th quarter valued at $45,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on CVX shares. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Finally, Barclays lowered their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $169.50.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of CVX opened at $137.26 on Wednesday. The firm has a market cap of $241.66 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a 50 day moving average of $152.74 and a 200-day moving average of $153.22. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business posted $3.45 EPS. As a group, analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This is a boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.98%. Chevron's dividend payout ratio is presently 70.37%.

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.