Blodgett Wealth Advisors LLC Raises Holdings in Chevron Co. (NYSE:CVX)

Blodgett Wealth Advisors LLC grew its position in Chevron Co. (NYSE:CVX) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,691 shares of the oil and gas company’s stock after buying an additional 125 shares during the period. Chevron accounts for about 0.7% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 25th largest position. Blodgett Wealth Advisors LLC’s holdings in Chevron were worth $700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in Chevron in the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV boosted its position in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter valued at about $33,000. Legacy Financial Group LLC acquired a new position in Chevron during the 3rd quarter valued at about $43,000. Finally, Roble Belko & Company Inc raised its stake in Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX traded up $0.61 during trading hours on Friday, reaching $165.89. 9,736,350 shares of the company were exchanged, compared to its average volume of 7,082,480. The stock’s 50-day moving average is $156.58 and its 200-day moving average is $151.83. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The firm has a market cap of $308.10 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the firm earned $3.55 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm 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 dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 3.93%. Chevron’s dividend payout ratio is presently 57.39%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVX. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. Wells Fargo & Company lifted their price objective on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Raymond James raised their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.18% of the stock is owned by insiders.

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.