HTLF Bank Invests $8.15 Million in Chevron Co. (NYSE:CVX)

HTLF Bank acquired a new position in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, Holdings Channel reports. The fund acquired 54,667 shares of the oil and gas company’s stock, valued at approximately $8,154,000. Chevron accounts for approximately 1.0% of HTLF Bank’s portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Lafayette Investments Inc. raised its holdings in shares of Chevron by 2.2% during the fourth quarter. Lafayette Investments Inc. now owns 13,798 shares of the oil and gas company’s stock valued at $2,058,000 after acquiring an additional 300 shares in the last quarter. Opes Wealth Management LLC increased its holdings in shares of Chevron by 29.4% during the fourth quarter. Opes Wealth Management LLC now owns 1,545 shares of the oil and gas company’s stock valued at $230,000 after acquiring an additional 351 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of Chevron by 24.2% during the fourth quarter. Fidelis Capital Partners LLC now owns 32,011 shares of the oil and gas company’s stock valued at $4,775,000 after acquiring an additional 6,238 shares in the last quarter. Western Wealth Management LLC increased its holdings in shares of Chevron by 2.2% during the fourth quarter. Western Wealth Management LLC now owns 32,146 shares of the oil and gas company’s stock valued at $4,795,000 after acquiring an additional 690 shares in the last quarter. Finally, Xponance Inc. increased its holdings in shares of Chevron by 10.1% during the fourth quarter. Xponance Inc. now owns 224,656 shares of the oil and gas company’s stock valued at $33,510,000 after acquiring an additional 20,519 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX traded up $2.50 during trading hours on Friday, reaching $160.07. The company’s stock had a trading volume of 2,279,635 shares, compared to its average volume of 8,444,846. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $155.26 and a 200 day simple moving average of $151.90. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.38. The stock has a market cap of $297.29 billion, a PE ratio of 14.12, a PEG ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.09 earnings per share. Equities research analysts predict that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is presently 57.39%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Monday, January 8th. UBS Group raised their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Mizuho raised their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

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.