LCM Capital Management Inc Grows Position in Chevron Co. (NYSE:CVX)

LCM Capital Management Inc increased its position in Chevron Co. (NYSE:CVX) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,169 shares of the oil and gas company’s stock after purchasing an additional 114 shares during the quarter. Chevron makes up about 0.8% of LCM Capital Management Inc’s investment portfolio, making the stock its 21st largest holding. LCM Capital Management Inc’s holdings in Chevron were worth $1,289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Chevron by 13.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,630,433 shares of the oil and gas company’s stock worth $612,164,000 after purchasing an additional 423,863 shares in the last quarter. VisionPoint Advisory Group LLC lifted its position in shares of Chevron by 46.0% in the third quarter. VisionPoint Advisory Group LLC now owns 489 shares of the oil and gas company’s stock valued at $82,000 after acquiring an additional 154 shares in the last quarter. Chemung Canal Trust Co. lifted its position in shares of Chevron by 0.8% in the fourth quarter. Chemung Canal Trust Co. now owns 14,254 shares of the oil and gas company’s stock worth $2,126,000 after buying an additional 113 shares in the last quarter. Doliver Advisors LP lifted its position in shares of Chevron by 5.8% in the fourth quarter. Doliver Advisors LP now owns 7,932 shares of the oil and gas company’s stock worth $1,183,000 after buying an additional 436 shares in the last quarter. Finally, DNB Asset Management AS lifted its position in shares of Chevron by 8.1% in the fourth quarter. DNB Asset Management AS now owns 400,501 shares of the oil and gas company’s stock worth $59,739,000 after buying an additional 29,912 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now owns 27,725 shares in the company, valued at $4,581,279. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Alana K. Knowles sold 2,800 shares of Chevron 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 directly owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares of the company’s stock, valued at $4,581,279. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock worth $2,727,971 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CVX shares. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Truist Financial increased their price objective on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. TD Cowen upped their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $187.89.

Chevron Stock Performance

Chevron stock traded down $0.03 during midday trading on Friday, hitting $155.23. 1,927,300 shares of the company were exchanged, compared to its average volume of 7,898,815. The firm has a market capitalization of $286.08 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The business has a fifty day simple moving average of $157.85 and a two-hundred day simple moving average of $155.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the company earned $3.55 earnings per share. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Co. will post 13.18 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Chevron Company 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.