DB Fitzpatrick & Co Inc Makes New $1.54 Million Investment in Chevron Co. (NYSE:CVX)

DB Fitzpatrick & Co Inc bought a new position in Chevron Co. (NYSE:CVX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,754 shares of the oil and gas company’s stock, valued at approximately $1,539,000. Chevron comprises about 1.4% of DB Fitzpatrick & Co Inc’s investment portfolio, making the stock its 19th largest holding.

Several other hedge funds also recently bought and sold shares of CVX. Alps Advisors Inc. acquired a new position in Chevron in the 3rd quarter worth about $347,000. The Manufacturers Life Insurance Company boosted its stake in shares of Chevron by 12.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,580,870 shares of the oil and gas company’s stock worth $266,566,000 after acquiring an additional 177,944 shares in the last quarter. Ramirez Asset Management Inc. bought a new stake in shares of Chevron during the 3rd quarter worth about $78,000. Holderness Investments Co. boosted its stake in shares of Chevron by 4.4% during the 3rd quarter. Holderness Investments Co. now owns 12,231 shares of the oil and gas company’s stock worth $2,062,000 after acquiring an additional 517 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of Chevron by 1.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 106,355 shares of the oil and gas company’s stock worth $17,934,000 after acquiring an additional 2,019 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated 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 owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock valued at $2,727,971 in the last 90 days. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Down 0.0 %

CVX stock opened at $156.71 on Friday. The business has a fifty day moving average price of $158.85 and a 200 day moving average price of $154.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock has a market capitalization of $288.81 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last released its quarterly 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. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter last year, the business posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts expect that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Piper Sandler upped their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Barclays began coverage on Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. HSBC increased their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Company 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.