Chevron Co. (NYSE:CVX) Position Increased by Kowal Investment Group LLC

Kowal Investment Group LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 45.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 10,941 shares of the oil and gas company’s stock after buying an additional 3,413 shares during the quarter. Kowal Investment Group LLC’s holdings in Chevron were worth $1,726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ariel Investments LLC acquired a new stake in shares of Chevron in the third quarter valued at about $1,654,000. Alps Advisors Inc. bought a new position in Chevron during the third quarter worth about $347,000. Evergreen Capital Management LLC raised its stake in shares of Chevron by 4.1% in the third quarter. Evergreen Capital Management LLC now owns 40,993 shares of the oil and gas company’s stock valued at $6,912,000 after acquiring an additional 1,605 shares during the last quarter. Ellerson Group Inc. ADV raised its stake in shares of Chevron by 14.6% in the third quarter. Ellerson Group Inc. ADV now owns 3,307 shares of the oil and gas company’s stock valued at $558,000 after acquiring an additional 422 shares during the last quarter. Finally, Elevatus Welath Management raised its stake in shares of Chevron by 10.7% in the third quarter. Elevatus Welath Management now owns 2,791 shares of the oil and gas company’s stock valued at $471,000 after acquiring an additional 270 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX stock opened at $156.52 on Tuesday. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The firm has a market capitalization of $288.46 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $159.22 and a 200-day moving average of $154.78.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.55 EPS. On average, equities research analysts forecast that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVX. Mizuho boosted their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. UBS Group boosted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Raymond James boosted their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Insider Activity at Chevron

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is 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.