Lyell Wealth Management LP Purchases 920 Shares of Chevron Co. (NYSE:CVX)

Lyell Wealth Management LP increased its position in shares of Chevron Co. (NYSE:CVX) by 1.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 52,411 shares of the oil and gas company’s stock after buying an additional 920 shares during the period. Lyell Wealth Management LP’s holdings in Chevron were worth $7,818,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management bought a new position in Chevron in the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV grew its stake in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in Chevron in the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC bought a new position in Chevron in the third quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc grew its stake in Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CVX. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Wells Fargo & Company raised their price objective on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. UBS Group raised their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $184.75.

Chevron Trading Up 0.5 %

CVX traded up $0.84 during midday trading on Wednesday, hitting $163.69. 7,607,146 shares of the company were exchanged, compared to its average volume of 8,448,613. The firm has a market capitalization of $304.02 billion, a P/E ratio of 14.41, a P/E/G ratio of 2.38 and a beta of 1.12. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm’s 50 day moving average price is $156.14 and its 200-day moving average price is $151.75. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.09 EPS. As a group, equities analysts forecast that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.98%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is currently 57.39%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company 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.