Redmond Asset Management LLC Increases Position in Chevron Co. (NYSE:CVX)

Redmond Asset Management LLC raised its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,095 shares of the oil and gas company's stock after purchasing an additional 1,741 shares during the period. Redmond Asset Management LLC's holdings in Chevron were worth $3,200,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter worth about $29,000. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the 3rd quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter worth about $39,000. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred 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 sale, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CVX shares. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and increased their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. UBS Group reduced their target price on Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

Chevron Stock Down 1.2 %

CVX stock traded down $1.87 during mid-day trading on Friday, reaching $156.92. 6,686,883 shares of the company traded hands, compared to its average volume of 6,690,703. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm's 50 day moving average price is $151.97 and its 200 day moving average price is $150.99. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $282.00 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 firm posted $3.45 EPS. As a group, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.36%. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio (DPR) is currently 70.37%.

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.