Howard Bailey Securities LLC Buys New Shares in Chevron Co. (NYSE:CVX)

Howard Bailey Securities LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 1,393 shares of the oil and gas company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its stake in Chevron by 4.3% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock valued at $425,000 after purchasing an additional 120 shares during the period. Regatta Capital Group LLC lifted its holdings in Chevron by 9.9% in the 3rd quarter. Regatta Capital Group LLC now owns 5,497 shares of the oil and gas company’s stock worth $810,000 after purchasing an additional 493 shares in the last quarter. PFG Advisors lifted its holdings in Chevron by 5.6% in the 3rd quarter. PFG Advisors now owns 39,340 shares of the oil and gas company’s stock worth $5,794,000 after purchasing an additional 2,084 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its holdings in Chevron by 12.0% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 60,740 shares of the oil and gas company’s stock worth $9,090,000 after purchasing an additional 6,486 shares in the last quarter. Finally, QV Investors Inc. lifted its holdings in Chevron by 0.6% in the 3rd quarter. QV Investors Inc. now owns 22,897 shares of the oil and gas company’s stock worth $3,372,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CVX. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Wells Fargo & Company decreased their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Finally, Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Down 1.6 %

Shares of NYSE CVX opened at $154.91 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $278.39 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business has a fifty day moving average price of $151.99 and a 200 day moving average price of $150.81.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 in the previous year, the firm earned $3.45 EPS. Equities research analysts expect that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.42%. Chevron’s dividend payout ratio (DPR) is 67.08%.

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.