Naples Money Management LLC Invests $255,000 in Chevron Co. (NYSE:CVX)

Naples Money Management LLC purchased a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,709 shares of the oil and gas company’s stock, valued at approximately $255,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P increased its holdings in Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after buying an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC increased its stake in Chevron by 25.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 1,476 shares in the last quarter. GQG Partners LLC increased its stake in Chevron by 4.7% in the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after purchasing an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC raised its holdings in Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after purchasing an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after purchasing an additional 250,840 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.5 %

Shares of NYSE CVX traded up $2.43 during trading on Friday, hitting $160.00. 7,592,840 shares of the company traded hands, compared to its average volume of 8,519,150. The firm has a market capitalization of $297.16 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.36 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $155.26 and a 200-day moving average price of $151.90. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.38.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.09 earnings per share. On average, equities analysts predict that Chevron Co. will post 13.27 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is 57.39%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research analyst reports. UBS Group raised their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada increased their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Raymond James lifted their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

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.