Northcape Wealth Management LLC Purchases 250 Shares of Chevron Co. (NYSE:CVX)

Northcape Wealth Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 14.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,012 shares of the oil and gas company’s stock after purchasing an additional 250 shares during the quarter. Northcape Wealth Management LLC’s holdings in Chevron were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. Morgan Stanley grew its stake in shares of Chevron by 7.0% in 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 acquiring an additional 2,244,995 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth $348,789,000. Envestnet Asset Management Inc. raised its position 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 worth $778,097,000 after purchasing an additional 1,230,619 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in 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 worth $704,822,000 after purchasing an additional 923,119 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CVX shares. HSBC lifted their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday. Mizuho upped their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Piper Sandler lifted their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. UBS Group upped their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, Truist Financial reduced their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Price Performance

NYSE CVX opened at $161.27 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The business’s fifty day moving average is $156.96 and its 200 day moving average is $151.68. The company has a market capitalization of $299.52 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 2.43 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.

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 return on equity of 14.38% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the firm earned $3.55 EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 13.71 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given 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 dividend yield of 4.04%. Chevron’s payout ratio is 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

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.