Ford Financial Group Inc. lifted its position in Chevron Co. (NYSE:CVX) by 592.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,427 shares of the oil and gas company’s stock after buying an additional 9,777 shares during the period. Chevron makes up about 0.9% of Ford Financial Group Inc.’s investment portfolio, making the stock its 21st biggest position. Ford Financial Group Inc.’s holdings in Chevron were worth $1,243,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hedeker Wealth LLC lifted its position in Chevron by 0.7% during the fourth quarter. Hedeker Wealth LLC now owns 18,961 shares of the oil and gas company’s stock valued at $2,062,000 after purchasing an additional 134 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in Chevron by 0.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 1,033,875 shares of the oil and gas company’s stock valued at $112,475,000 after purchasing an additional 6,695 shares in the last quarter. Commerce Bank lifted its position in Chevron by 1.1% during the third quarter. Commerce Bank now owns 1,048,058 shares of the oil and gas company’s stock valued at $128,157,000 after purchasing an additional 10,936 shares in the last quarter. Independent Investors Inc. lifted its position in Chevron by 35.2% during the fourth quarter. Independent Investors Inc. now owns 7,300 shares of the oil and gas company’s stock valued at $794,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Chevron by 320.3% during the third quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock valued at $349,120,000 after purchasing an additional 2,175,800 shares in the last quarter. Hedge funds and other institutional investors own 65.90% of the company’s stock.

In other news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $124.84, for a total value of $592,990.00. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $592,990. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

NYSE:CVX opened at $122.14 on Thursday. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The stock has a market cap of $229.41 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 2.77 and a beta of 1.00. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $130.39.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.13. The business had revenue of $35.20 billion for the quarter, compared to analysts’ expectations of $38.42 billion. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. As a group, analysts predict that Chevron Co. will post 7.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a $1.19 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.76 annualized dividend and a dividend yield of 3.90%. Chevron’s dividend payout ratio (DPR) is 57.70%.

Several research firms recently weighed in on CVX. Royal Bank of Canada upgraded Chevron to a “sector perform” rating and set a $145.00 target price on the stock in a research report on Wednesday, March 6th. Barclays lifted their target price on Chevron from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Mizuho reiterated a “buy” rating and set a $140.00 target price on shares of Chevron in a research report on Wednesday, March 6th. Morgan Stanley began coverage on Chevron in a research report on Monday, April 1st. They set an “overweight” rating and a $146.00 target price on the stock. Finally, Citigroup began coverage on Chevron in a research report on Monday. They set a “buy” rating and a $135.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $135.47.

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Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Further Reading: How do analysts define an oversold condition?

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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