Fund Advisors of America Inc FL Acquires Shares of 4,889 Chevron Corporation $CVX

Fund Advisors of America Inc FL bought a new position in shares of Chevron Corporation (NYSE:CVX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,889 shares of the oil and gas company’s stock, valued at approximately $745,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Chevron during the fourth quarter worth $3,727,586,000. State Street Corp increased its holdings in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc lifted its stake in Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after buying an additional 8,091,570 shares during the period. Primecap Management Co. CA acquired a new position in Chevron in the third quarter valued at about $988,083,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Chevron by 822.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after buying an additional 5,537,580 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the transaction, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 615,200 shares of company stock worth $118,022,760 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. TD Cowen boosted their target price on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Sanford C. Bernstein reduced their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research note on Monday, May 11th. Citigroup boosted their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Morgan Stanley upped their target price on shares of Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.70.

Chevron Stock Down 0.1%

NYSE:CVX opened at $173.51 on Friday. Chevron Corporation has a 1 year low of $142.40 and a 1 year high of $214.71. The stock has a 50-day moving average price of $186.63 and a two-hundred day moving average price of $179.01. The stock has a market cap of $345.56 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 0.57 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter last year, the firm posted $2.18 earnings per share. Chevron’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

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

About Chevron

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.