Chevron Co. (NYSE:CVX) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 5.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 44,741 shares of the oil and gas company’s stock after purchasing an additional 2,384 shares during the quarter. Chevron accounts for about 0.8% of Kovack Advisors Inc.’s portfolio, making the stock its 14th largest holding. Kovack Advisors Inc.’s holdings in Chevron were worth $6,674,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Mach 1 Financial Group LLC lifted its position in Chevron by 6.8% in the 3rd quarter. Mach 1 Financial Group LLC now owns 8,000 shares of the oil and gas company’s stock worth $1,349,000 after buying an additional 512 shares in the last quarter. Mcrae Capital Management Inc. lifted its position in Chevron by 75.7% in the 3rd quarter. Mcrae Capital Management Inc. now owns 4,423 shares of the oil and gas company’s stock worth $746,000 after buying an additional 1,906 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management lifted its position in Chevron by 1.8% in the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 23,071 shares of the oil and gas company’s stock worth $3,890,000 after buying an additional 406 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in Chevron by 3.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 26,249 shares of the oil and gas company’s stock worth $4,306,000 after buying an additional 812 shares in the last quarter. Finally, Willis Investment Counsel lifted its position in Chevron by 0.4% in the 3rd quarter. Willis Investment Counsel now owns 71,871 shares of the oil and gas company’s stock worth $12,119,000 after buying an additional 300 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Tuesday, February 6th. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Piper Sandler lifted their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Wells Fargo & Company lifted their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $184.75.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX traded up $0.55 during trading on Friday, reaching $165.83. The company had a trading volume of 9,733,427 shares, compared to its average volume of 8,480,016. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The stock has a market cap of $307.99 billion, a PE ratio of 14.60, a PEG ratio of 2.41 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The business’s 50 day moving average price is $156.58 and its 200-day moving average price is $151.83.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.06 by ($0.13). The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.55 earnings per share. Analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 57.39%.

Chevron 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.