Woodmont Investment Counsel LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Woodmont Investment Counsel LLC raised its stake in Chevron Co. (NYSE:CVX - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,563 shares of the oil and gas company's stock after purchasing an additional 2,352 shares during the period. Chevron accounts for 1.2% of Woodmont Investment Counsel LLC's holdings, making the stock its 18th biggest holding. Woodmont Investment Counsel LLC's holdings in Chevron were worth $16,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the 3rd quarter worth about $29,000. Fairway Wealth LLC increased its stake in 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 buying an additional 88 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth approximately $39,000. Institutional investors own 72.42% of the company's stock.

Chevron Trading Down 0.7 %

NYSE CVX traded down $1.24 during trading on Thursday, hitting $166.73. 6,855,592 shares of the company's stock traded hands, compared to its average volume of 7,354,966. The stock has a fifty day moving average of $157.01 and a two-hundred day moving average of $153.21. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96. The firm has a market cap of $293.54 billion, a P/E ratio of 17.15, a PEG ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Remove Ads

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 quarter in the prior year, the business earned $3.45 EPS. As a group, sell-side analysts expect 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. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is currently 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Finally, Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Chevron currently has an average rating of "Moderate Buy" and an average target price of $174.13.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.