Sigma Investment Counselors Inc. Increases Stake in Chevron Co. (NYSE:CVX)

Sigma Investment Counselors Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,313 shares of the oil and gas company’s stock after purchasing an additional 147 shares during the period. Sigma Investment Counselors Inc.’s holdings in Chevron were worth $2,881,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Windsor Advisory Group LLC grew its holdings in shares of Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares during the last quarter. Dechtman Wealth Management LLC bought a new position in shares of Chevron during the 2nd quarter valued at $648,000. Renaissance Investment Group LLC grew its holdings in shares of Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the last quarter. Altrius Capital Management Inc grew its holdings in shares of Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 434 shares during the last quarter. Finally, Tsfg LLC grew its holdings in shares of Chevron by 5.3% during the 3rd quarter. Tsfg LLC now owns 3,473 shares of the oil and gas company’s stock valued at $586,000 after purchasing an additional 176 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a report on Tuesday, January 16th. Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Finally, Royal Bank of Canada raised their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.39.

View Our Latest Analysis on CVX

Chevron Trading Up 0.5 %

Shares of CVX opened at $159.82 on Wednesday. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88. The firm has a market capitalization of $296.83 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 2.42 and a beta of 1.12. The firm’s 50-day moving average price is $152.56 and its 200-day moving average price is $152.41. 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:CVXGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period last year, the company posted $4.09 EPS. Chevron’s revenue was down 16.5% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 13.13 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is 57.39%.

About Chevron

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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