Evanson Asset Management LLC Purchases 244 Shares of Chevron Co. (NYSE:CVX)

Evanson Asset Management LLC grew its position in Chevron Co. (NYSE:CVX) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,480 shares of the oil and gas company’s stock after buying an additional 244 shares during the period. Evanson Asset Management LLC’s holdings in Chevron were worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Windsor Advisory Group LLC raised its position in shares of Chevron by 24.0% in the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares during the period. Dechtman Wealth Management LLC acquired a new stake in Chevron during the second quarter worth approximately $648,000. Renaissance Investment Group LLC grew its position in shares of Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the last quarter. Altrius Capital Management Inc lifted its holdings in Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after purchasing an additional 434 shares during the last quarter. Finally, Tsfg LLC boosted its stake in Chevron by 5.3% in the 3rd quarter. Tsfg LLC now owns 3,473 shares of the oil and gas company’s stock valued at $586,000 after purchasing an additional 176 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.9 %

NYSE CVX traded up $1.39 on Thursday, hitting $157.74. The company’s stock had a trading volume of 8,232,104 shares, compared to its average volume of 8,778,653. The firm has a market cap of $292.97 billion, a PE ratio of 13.90, a PEG ratio of 2.38 and a beta of 1.12. The company’s 50-day moving average is $151.60 and its 200 day moving average is $152.67. 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 $172.88.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.09 earnings per share. As a group, analysts predict that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

Analysts Set New Price Targets

A number of analysts have issued reports on CVX shares. Royal Bank of Canada boosted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price for the company. in a research report on Tuesday, January 16th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.39.

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.