Fidelis Capital Partners LLC Boosts Stake in Chevron Co. (NYSE:CVX)

Fidelis Capital Partners LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 24.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 32,011 shares of the oil and gas company’s stock after acquiring an additional 6,238 shares during the period. Chevron comprises about 1.1% of Fidelis Capital Partners LLC’s holdings, making the stock its 15th largest holding. Fidelis Capital Partners LLC’s holdings in Chevron were worth $4,775,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Western Wealth Management LLC grew its stake in shares of Chevron by 2.2% in the 4th quarter. Western Wealth Management LLC now owns 32,146 shares of the oil and gas company’s stock worth $4,795,000 after buying an additional 690 shares during the last quarter. Xponance Inc. grew its stake in shares of Chevron by 10.1% in the 4th quarter. Xponance Inc. now owns 224,656 shares of the oil and gas company’s stock worth $33,510,000 after buying an additional 20,519 shares during the last quarter. Integral Investment Advisors Inc. grew its stake in shares of Chevron by 34.1% in the 4th quarter. Integral Investment Advisors Inc. now owns 7,012 shares of the oil and gas company’s stock worth $1,046,000 after buying an additional 1,782 shares during the last quarter. SFE Investment Counsel grew its stake in shares of Chevron by 432.1% in the 4th quarter. SFE Investment Counsel now owns 14,192 shares of the oil and gas company’s stock worth $2,117,000 after buying an additional 11,525 shares during the last quarter. Finally, Cambridge Trust Co. grew its stake in shares of Chevron by 0.3% in the 4th quarter. Cambridge Trust Co. now owns 116,207 shares of the oil and gas company’s stock worth $17,333,000 after buying an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.

Chevron Stock Performance

Chevron stock traded up $2.95 during trading on Friday, reaching $160.52. The company had a trading volume of 1,636,903 shares, compared to its average volume of 8,431,626. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.38. The firm’s 50-day simple moving average is $155.26 and its 200 day simple moving average is $151.90. The firm has a market capitalization of $298.13 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

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 analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same period last year, the firm earned $4.09 EPS. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 13.27 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors 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 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial cut their price target on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Barclays started coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. 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. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

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.