Hodges Capital Management Inc. Buys 84 Shares of Chevron Co. (NYSE:CVX)

Hodges Capital Management Inc. grew its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,731 shares of the oil and gas company’s stock after buying an additional 84 shares during the quarter. Hodges Capital Management Inc.’s holdings in Chevron were worth $1,120,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the third quarter valued at $29,000. Rational Advisors LLC bought a new position in Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $39,000. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.1 %

NYSE:CVX opened at $149.39 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market cap of $268.46 billion, a PE ratio of 15.37, a PEG ratio of 1.29 and a beta of 1.12. The firm has a 50-day moving average of $153.19 and a 200-day moving average of $151.02.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the business earned $3.45 EPS. As a group, equities research analysts expect that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.58%. Chevron’s dividend payout ratio (DPR) is 70.37%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CVX. 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 report on Tuesday, November 5th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Raymond James cut their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.60.

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.