Amicus Financial Advisors LLC Takes Position in Chevron Corporation $CVX

Amicus Financial Advisors LLC purchased a new position in Chevron Corporation (NYSE:CVX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,198 shares of the oil and gas company’s stock, valued at approximately $1,097,000.

Other hedge funds have also recently made changes to their positions in the company. Phillip James Consulting Co. purchased a new stake in shares of Chevron during the fourth quarter valued at about $26,000. Core Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth approximately $26,000. Karpus Management Inc. bought a new position in shares of Chevron during the 4th quarter worth approximately $27,000. Basso Capital Management L.P. bought a new position in shares of Chevron during the 4th quarter worth approximately $27,000. Finally, Quattro Advisors LLC purchased a new stake in Chevron during the fourth quarter valued at approximately $27,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $173.51 on Friday. The business’s 50-day moving average is $186.63 and its two-hundred day moving average is $179.01. The company has a market capitalization of $345.56 billion, a P/E ratio of 30.07, a P/E/G ratio of 0.57 and a beta of 0.48. Chevron Corporation has a fifty-two week low of $142.40 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. Chevron’s payout ratio is presently 123.40%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 615,200 shares of company stock worth $118,022,760. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CVX shares. TD Cowen raised their target price on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Finally, Sanford C. Bernstein reduced their target price on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.