Adell Harriman & Carpenter Inc. Boosts Stock Position in Chevron Co. (NYSE:CVX)

Adell Harriman & Carpenter Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 2.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 61,315 shares of the oil and gas company’s stock after purchasing an additional 1,621 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Chevron were worth $9,146,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Windsor Advisory Group LLC increased its position in Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after purchasing an additional 720 shares during the last quarter. Renaissance Investment Group LLC grew its position in 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 acquiring an additional 697 shares in the last quarter. Altrius Capital Management Inc raised its stake in shares of Chevron by 2.1% during the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 434 shares during the period. Camelot Portfolios LLC acquired a new position in shares of Chevron during the fourth quarter worth $254,000. Finally, Kapstone Financial Advisors LLC lifted its holdings in Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after buying an additional 211 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX traded up $0.44 on Monday, reaching $166.33. The company had a trading volume of 6,231,469 shares, compared to its average volume of 8,452,632. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $308.92 billion, a P/E ratio of 15.35, a PEG ratio of 2.44 and a beta of 1.12. The company has a fifty day moving average of $156.58 and a 200-day moving average of $151.66. Chevron Co. has a one year low of $139.62 and a one year high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the business posted $3.55 EPS. Chevron’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. Investors of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. UBS Group raised their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Mizuho raised their price target on shares of 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 upped their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Piper Sandler boosted their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $185.25.

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.