Osprey Private Wealth LLC Grows Stock Position in Chevron Corporation $CVX

Osprey Private Wealth LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 40.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,915 shares of the oil and gas company’s stock after buying an additional 3,725 shares during the period. Osprey Private Wealth LLC’s holdings in Chevron were worth $2,672,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its holdings in Chevron by 2.5% in the first quarter. Sequoia Financial Advisors LLC now owns 160,718 shares of the oil and gas company’s stock valued at $33,252,000 after acquiring an additional 3,966 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its holdings in shares of Chevron by 13.0% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 5,878 shares of the oil and gas company’s stock worth $1,216,000 after purchasing an additional 677 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of Chevron by 14.8% in the 1st quarter. Cedar Mountain Advisors LLC now owns 465 shares of the oil and gas company’s stock valued at $96,000 after purchasing an additional 60 shares in the last quarter. Diversified Investment Strategies LLC purchased a new stake in shares of Chevron during the 1st quarter worth about $253,000. Finally, Carmel Capital Partners LLC acquired a new stake in Chevron during the 1st quarter worth approximately $206,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. Wells Fargo & Company boosted their price objective on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Friday, March 20th. Jefferies Financial Group reiterated a “buy” rating and issued a $216.00 target price on shares of Chevron in a research note on Friday. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a research note on Friday, April 17th. Finally, Morgan Stanley cut their target price on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Nineteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.83.

Chevron Stock Performance

NYSE CVX traded up $2.24 during trading hours on Friday, hitting $176.29. The company had a trading volume of 5,984,338 shares, compared to its average volume of 9,284,713. The firm has a market cap of $351.10 billion, a P/E ratio of 30.55, a price-to-earnings-growth ratio of 0.59 and a beta of 0.50. The business has a fifty day simple moving average of $181.92 and a 200-day simple moving average of $181.29. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the firm earned $2.18 EPS. Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 15.28 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.0%. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by insiders.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.