Certuity LLC Purchases 13,116 Shares of Chevron Co. (NYSE:CVX)

Certuity LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 12.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,203 shares of the oil and gas company’s stock after purchasing an additional 13,116 shares during the quarter. Chevron comprises about 1.8% of Certuity LLC’s portfolio, making the stock its 13th biggest position. Certuity LLC’s holdings in Chevron were worth $17,780,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. International Assets Investment Management LLC raised its position in shares of Chevron by 15,548.2% during the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares during the period. Morgan Stanley raised its holdings in Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $348,789,000. Envestnet Asset Management Inc. boosted its holdings in shares of Chevron by 36.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock valued at $778,097,000 after purchasing an additional 1,230,619 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Chevron by 28.3% in the 3rd quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock valued at $704,822,000 after acquiring an additional 923,119 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.7 %

Shares of CVX traded down $2.82 during mid-day trading on Tuesday, hitting $163.51. 3,468,454 shares of the company’s stock were exchanged, compared to its average volume of 8,392,471. The stock’s 50-day moving average is $156.81 and its 200-day moving average is $151.70. The company has a market cap of $303.68 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the firm posted $3.55 EPS. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was 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 directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CVX shares. UBS Group increased their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Wells Fargo & Company lifted their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank of Canada raised their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. Finally, Barclays assumed coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $185.35.

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.