HTLF Bank Invests $8.15 Million in Chevron Co. (NYSE:CVX)

HTLF Bank purchased a new position in Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,667 shares of the oil and gas company’s stock, valued at approximately $8,154,000. Chevron comprises 1.0% of HTLF Bank’s investment portfolio, making the stock its 25th biggest position.

Several other hedge funds have also recently modified their holdings of CVX. NCM Capital Management LLC raised its position in Chevron by 1.2% during the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after purchasing an additional 65 shares during the period. Sweet Financial Partners LLC grew its stake in Chevron by 0.7% in the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after purchasing an additional 65 shares in the last quarter. Strategic Investment Advisors MI grew its stake in Chevron by 3.8% in the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 65 shares in the last quarter. Global Trust Asset Management LLC grew its stake in Chevron by 1.0% in the third quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 67 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC grew its stake in Chevron by 1.4% in the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.6 %

CVX traded up $2.50 during trading hours on Friday, reaching $160.07. The company’s stock had a trading volume of 2,279,635 shares, compared to its average volume of 8,444,846. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.38. The stock has a market cap of $297.29 billion, a PE ratio of 14.12, a P/E/G ratio of 2.36 and a beta of 1.12. The business’s 50-day moving average is $155.26 and its 200-day moving average is $151.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the prior year, the firm earned $4.09 earnings per share. The firm’s revenue was down 16.5% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Analyst Ratings Changes

Several analysts have issued reports on the company. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Raymond James increased their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. Truist Financial dropped their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Royal Bank of Canada increased their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

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.