Buckley Wealth Management LLC Boosts Position in Chevron Co. (NYSE:CVX)

Buckley Wealth Management LLC lifted its position in Chevron Co. (NYSE:CVX) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,042 shares of the oil and gas company’s stock after acquiring an additional 4,685 shares during the quarter. Chevron accounts for approximately 5.9% of Buckley Wealth Management LLC’s holdings, making the stock its 3rd largest position. Buckley Wealth Management LLC’s holdings in Chevron were worth $17,011,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pettinga Financial Advisors LLC lifted its stake in Chevron by 14.5% in the fourth quarter. Pettinga Financial Advisors LLC now owns 2,697 shares of the oil and gas company’s stock valued at $402,000 after buying an additional 341 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its position in Chevron by 141.1% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 14,062 shares of the oil and gas company’s stock valued at $2,097,000 after purchasing an additional 8,230 shares during the last quarter. Hill Island Financial LLC grew its position in Chevron by 21.9% in the 4th quarter. Hill Island Financial LLC now owns 1,528 shares of the oil and gas company’s stock worth $228,000 after purchasing an additional 275 shares during the last quarter. A. D. Beadell Investment Counsel Inc. increased its stake in shares of Chevron by 69.5% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 6,413 shares of the oil and gas company’s stock valued at $956,000 after purchasing an additional 2,630 shares during the period. Finally, Well Done LLC raised its holdings in shares of Chevron by 69.9% during the fourth quarter. Well Done LLC now owns 4,048 shares of the oil and gas company’s stock valued at $604,000 after buying an additional 1,665 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research note on Tuesday, January 16th. Royal Bank of Canada increased their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Mizuho increased their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.39.

Chevron Trading Up 1.1 %

Shares of Chevron stock traded up $1.76 during trading hours on Thursday, hitting $158.11. The company’s stock had a trading volume of 4,733,094 shares, compared to its average volume of 8,712,957. The company has a market capitalization of $293.65 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock has a 50 day moving average of $151.34 and a 200 day moving average of $152.65. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.09 EPS. Analysts predict that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

About Chevron

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.