NCM Capital Management LLC Buys 779 Shares of Chevron Co. (NYSE:CVX)

NCM Capital Management LLC raised its stake in Chevron Co. (NYSE:CVX) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,250 shares of the oil and gas company’s stock after acquiring an additional 779 shares during the period. NCM Capital Management LLC’s holdings in Chevron were worth $905,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter valued at $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the 4th quarter worth about $29,000. Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Finally, Navigoe LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $33,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on CVX. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Mizuho reduced their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Trading Down 0.9%

Shares of NYSE:CVX opened at $137.21 on Wednesday. The firm has a market cap of $239.62 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company’s fifty day simple moving average is $146.04 and its 200 day simple moving average is $151.61. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.93 earnings per share. As a group, research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.99%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Chevron 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.