Stonebrook Private Inc. Makes New Investment in Chevron Co. (NYSE:CVX)

Stonebrook Private Inc. bought a new position in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,351 shares of the oil and gas company’s stock, valued at approximately $798,000.

A number of other institutional investors also recently bought and sold shares of the company. CX Institutional increased its position in shares of Chevron by 6.0% during the third quarter. CX Institutional now owns 14,911 shares of the oil and gas company’s stock worth $2,514,000 after acquiring an additional 848 shares during the last quarter. Whitcomb & Hess Inc. bought a new stake in Chevron in the third quarter valued at about $215,000. Ballast Inc. increased its holdings in Chevron by 19.1% in the third quarter. Ballast Inc. now owns 1,983 shares of the oil and gas company’s stock valued at $334,000 after buying an additional 318 shares during the last quarter. Culbertson A N & Co. Inc. increased its holdings in Chevron by 1.9% in the third quarter. Culbertson A N & Co. Inc. now owns 50,018 shares of the oil and gas company’s stock valued at $8,434,000 after buying an additional 951 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in Chevron by 4.4% in the third quarter. Hennessy Advisors Inc. now owns 64,932 shares of the oil and gas company’s stock valued at $10,949,000 after buying an additional 2,707 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related 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 transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock traded up $0.61 during midday trading on Friday, hitting $165.89. 9,736,350 shares of the company were exchanged, compared to its average volume of 7,082,480. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a market capitalization of $308.10 billion, a P/E ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm’s 50 day moving average price is $156.58 and its two-hundred day moving average price is $151.73.

Chevron (NYSE:CVX) last announced 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 net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the company posted $3.55 EPS. The company’s revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVX. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. UBS Group upped their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company upped their target price on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $184.75.

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.