Enhancing Capital LLC Makes New Investment in Chevron Co. (NYSE:CVX)

Enhancing Capital LLC bought a new position in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 20,360 shares of the oil and gas company’s stock, valued at approximately $2,949,000. Chevron comprises about 2.4% of Enhancing Capital LLC’s portfolio, making the stock its 11th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after acquiring an additional 3,203,899 shares during the last quarter. State Street Corp boosted its stake in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Chevron by 5.7% in the 3rd quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock valued at $463,560,000 after purchasing an additional 171,089 shares during the last quarter. Nicholas Company Inc. boosted its stake in shares of Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after purchasing an additional 3,280 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd bought a new stake in shares of Chevron in the 4th quarter valued at $594,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

CVX opened at $158.69 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average price is $155.26 and its two-hundred day moving average price is $152.14. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a market cap of $279.38 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company posted $3.45 earnings per share. On average, analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.31%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently 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.