Brighton Jones LLC Raises Position in Chevron Co. (NYSE:CVX)

Brighton Jones LLC boosted its position in Chevron Co. (NYSE:CVX) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,326 shares of the oil and gas company’s stock after acquiring an additional 740 shares during the period. Brighton Jones LLC’s holdings in Chevron were worth $3,330,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Mission Wealth Management LP raised its position in Chevron by 4.1% in the fourth quarter. Mission Wealth Management LP now owns 29,865 shares of the oil and gas company’s stock worth $4,455,000 after acquiring an additional 1,178 shares during the period. Pekin Hardy Strauss Inc. grew its stake in Chevron by 8.5% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 36,411 shares of the oil and gas company’s stock valued at $5,431,000 after acquiring an additional 2,842 shares in the last quarter. WealthTrust Axiom LLC grew its stake in shares of Chevron by 1.0% in the 4th quarter. WealthTrust Axiom LLC now owns 16,094 shares of the oil and gas company’s stock worth $2,401,000 after buying an additional 166 shares in the last quarter. Certuity LLC grew its stake in shares of Chevron by 12.4% in the 4th quarter. Certuity LLC now owns 119,203 shares of the oil and gas company’s stock worth $17,780,000 after buying an additional 13,116 shares in the last quarter. Finally, Norden Group LLC lifted its holdings in shares of Chevron by 13.2% in the 4th quarter. Norden Group LLC now owns 8,044 shares of the oil and gas company’s stock worth $1,200,000 after acquiring an additional 939 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

NYSE:CVX traded down $5.06 during trading hours on Tuesday, hitting $161.27. 8,382,708 shares of the stock traded hands, compared to its average volume of 8,454,227. The company has a market cap of $299.52 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. 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 Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock has a 50 day moving average price of $156.81 and a 200 day moving average price of $151.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.55 earnings per share. Sell-side analysts forecast that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. UBS Group raised their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, January 8th. Finally, HSBC upped their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $185.35.

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.