Lynch & Associates IN Boosts Stake in Chevron Co. (NYSE:CVX)

Lynch & Associates IN grew its stake in shares of Chevron Co. (NYSE:CVX) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,678 shares of the oil and gas company’s stock after purchasing an additional 1,206 shares during the period. Chevron makes up about 1.7% of Lynch & Associates IN’s holdings, making the stock its 16th largest position. Lynch & Associates IN’s holdings in Chevron were worth $7,775,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Atlas Brown Inc. grew its holdings in Chevron by 1.5% in the 4th quarter. Atlas Brown Inc. now owns 23,870 shares of the oil and gas company’s stock valued at $3,457,000 after buying an additional 343 shares during the period. HBW Advisory Services LLC boosted its stake in shares of Chevron by 2.0% during the 4th quarter. HBW Advisory Services LLC now owns 17,984 shares of the oil and gas company’s stock valued at $2,605,000 after buying an additional 359 shares during the last quarter. Sage Capital Advisors llc grew its holdings in Chevron by 1.2% during the 4th quarter. Sage Capital Advisors llc now owns 41,502 shares of the oil and gas company’s stock worth $6,011,000 after acquiring an additional 483 shares in the last quarter. Highline Wealth Partners LLC raised its position in shares of Chevron by 15.0% during the 4th quarter. Highline Wealth Partners LLC now owns 643 shares of the oil and gas company’s stock valued at $93,000 after acquiring an additional 84 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Chevron by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 47,839 shares of the oil and gas company’s stock worth $6,929,000 after buying an additional 1,161 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of Chevron stock traded up $2.99 during trading on Friday, reaching $153.29. The company’s stock had a trading volume of 11,057,248 shares, compared to its average volume of 7,539,276. The stock has a 50-day moving average price of $153.68 and a two-hundred day moving average price of $151.08. The stock has a market capitalization of $275.48 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the firm earned $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.25%. Chevron’s dividend payout ratio is 71.65%.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Finally, Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $174.60.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.