Eagle Capital Management LLC Grows Position in Chevron Co. (NYSE:CVX)

Eagle Capital Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,455 shares of the oil and gas company’s stock after purchasing an additional 163 shares during the period. Chevron comprises about 2.4% of Eagle Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Eagle Capital Management LLC’s holdings in Chevron were worth $5,435,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of CVX. Pacifica Partners Inc. grew its position in Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares in the last quarter. Ellenbecker Investment Group grew its position in Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after acquiring an additional 65 shares in the last quarter. Mayfair Advisory Group LLC grew its position in Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after acquiring an additional 65 shares in the last quarter. MCF Advisors LLC grew its position in Chevron by 0.7% in the first quarter. MCF Advisors LLC now owns 9,437 shares of the oil and gas company’s stock worth $1,489,000 after acquiring an additional 66 shares in the last quarter. Finally, Octavia Wealth Advisors LLC grew its position in Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after acquiring an additional 68 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE:CVX opened at $156.75 on Wednesday. The company has a market capitalization of $288.89 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. 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 50 day moving average of $159.11 and a 200 day moving average of $154.82.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’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 firm posted $3.55 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is presently 59.98%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, 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. Over the last three months, insiders have sold 16,746 shares of company stock valued at $2,727,971. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. TD Cowen boosted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

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.