Saxon Interests Inc. Boosts Stake in Chevron Co. (NYSE:CVX)

Saxon Interests Inc. increased its position in Chevron Co. (NYSE:CVX) by 10.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 18,340 shares of the oil and gas company’s stock after purchasing an additional 1,807 shares during the period. Chevron accounts for 1.4% of Saxon Interests Inc.’s investment portfolio, making the stock its 14th largest holding. Saxon Interests Inc.’s holdings in Chevron were worth $2,893,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CVX. Bare Financial Services Inc bought a new position in shares of Chevron during the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC purchased a new stake in Chevron during the fourth quarter worth $30,000. Valued Wealth Advisors LLC purchased a new stake in Chevron during the fourth quarter worth $33,000. Cooksen Wealth LLC purchased a new stake in Chevron during the fourth quarter worth $40,000. Finally, Clear Investment Research LLC lifted its holdings in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. HSBC increased their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Mizuho increased their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron Price Performance

NYSE:CVX opened at $156.75 on Wednesday. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $288.89 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The stock’s 50-day moving average price is $159.11 and its 200-day moving average price is $154.82.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $3.55 EPS. As a group, equities analysts expect that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is owned by corporate insiders.

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.