Sowell Financial Services LLC Acquires 202 Shares of Chevron Co. (NYSE:CVX)

Sowell Financial Services LLC increased its holdings in Chevron Co. (NYSE:CVX) by 0.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 80,436 shares of the oil and gas company’s stock after buying an additional 202 shares during the quarter. Sowell Financial Services LLC’s holdings in Chevron were worth $11,650,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CVX. Life Planning Partners Inc bought a new stake in shares of Chevron during the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the third quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron during the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in Chevron in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 2.3 %

Shares of CVX opened at $156.48 on Friday. 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 $275.51 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The business’s 50 day simple moving average is $154.08 and its 200-day simple moving average is $151.73.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business posted $3.45 EPS. As a group, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.37%. Chevron’s dividend payout ratio is 70.37%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company cut their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group decreased their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron 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.