Columbus Macro LLC Acquires 724 Shares of Chevron Co. (NYSE:CVX)

Columbus Macro LLC grew its stake in Chevron Co. (NYSE:CVX) by 49.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,194 shares of the oil and gas company’s stock after buying an additional 724 shares during the quarter. Columbus Macro LLC’s holdings in Chevron were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter valued at about $39,000. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $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 accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday. Finally, Barclays increased their price objective on 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.33.

Chevron Trading Up 2.5 %

NYSE CVX opened at $153.14 on Wednesday. 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 Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock has a 50-day moving average of $152.97 and a 200-day moving average of $150.93. The firm has a market cap of $275.20 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm earned $3.45 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 67.08%.

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.