Navellier & Associates Inc. Raises Stock Position in Chevron Co. (NYSE:CVX)

Navellier & Associates Inc. raised its holdings in Chevron Co. (NYSE:CVX - Free Report) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,051 shares of the oil and gas company's stock after purchasing an additional 1,741 shares during the period. Navellier & Associates Inc.'s holdings in Chevron were worth $2,904,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC grew its stake in Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company's stock valued at $17,844,000 after acquiring an additional 3,933 shares in the last quarter. State Street Corp grew its stake in Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock valued at $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. LPL Financial LLC grew its stake in Chevron by 5.7% during the third quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company's stock valued at $463,560,000 after acquiring an additional 171,089 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its stake in Chevron by 3.2% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company's stock valued at $16,930,000 after acquiring an additional 3,561 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Down 1.2 %

Shares of CVX traded down $1.87 during mid-day trading on Friday, reaching $156.92. The company's stock had a trading volume of 6,686,883 shares, compared to its average volume of 6,690,703. The stock has a market cap of $282.00 billion, a PE ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company's fifty day moving average price is $151.97 and its two-hundred day moving average price is $150.99.

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

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.36%. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron's payout ratio is presently 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVX shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Finally, Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

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.