Albion Financial Group UT Has $3.18 Million Stake in Chevron Co. (NYSE:CVX)

Albion Financial Group UT grew its holdings in shares of Chevron Co. (NYSE:CVX) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,175 shares of the oil and gas company’s stock after acquiring an additional 1,047 shares during the period. Albion Financial Group UT’s holdings in Chevron were worth $3,182,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares in the last quarter. Berkshire Hathaway Inc grew its stake in Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the period. Morgan Stanley increased its holdings in shares of Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after purchasing an additional 1,999,332 shares in the last quarter. Finally, Norges Bank acquired a new position in Chevron during the fourth quarter worth $2,902,007,000. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of several analyst reports. TD Cowen increased their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Barclays began coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Wells Fargo & Company raised their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Raymond James upped their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Mizuho upped 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. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were 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 approximately $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on 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 owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders sold a total of 16,746 shares of company stock worth $2,727,971 over the last three months. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of CVX stock opened at $156.75 on Thursday. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The firm has a fifty day moving average price of $158.99 and a 200-day moving average price of $154.88. The company has a market cap of $288.89 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the business posted $3.55 earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Announces Dividend

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

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.