Bleakley Financial Group LLC Purchases 3,503 Shares of Chevron Co. (NYSE:CVX)

Bleakley Financial Group LLC increased its holdings in Chevron Co. (NYSE:CVX) by 5.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 62,629 shares of the oil and gas company’s stock after buying an additional 3,503 shares during the quarter. Bleakley Financial Group LLC’s holdings in Chevron were worth $9,071,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CVX. Legacy Investment Solutions LLC purchased a new position in shares of Chevron during the 3rd quarter valued at about $29,000. Rational Advisors LLC purchased a new position in Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron in the third quarter worth $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.1 %

Shares of NYSE CVX opened at $153.01 on Thursday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market cap of $274.98 billion, a P/E ratio of 15.74, a PEG ratio of 1.29 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $152.79 and its 200-day simple moving average is $150.89.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the company earned $3.45 EPS. As a group, equities analysts predict that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. Chevron’s dividend payout ratio is presently 67.08%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CVX. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.13.

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.