Bearing Point Capital LLC Takes $6.29 Million Position in Chevron Co. (NYSE:CVX)

Bearing Point Capital LLC purchased a new position in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 43,390 shares of the oil and gas company's stock, valued at approximately $6,285,000. Chevron accounts for about 1.3% of Bearing Point Capital LLC's investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds also recently modified their holdings of CVX. Franklin Resources Inc. grew its stake in shares of Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company's stock worth $2,610,645,000 after acquiring an additional 573,218 shares during the period. Neville Rodie & Shaw Inc. lifted its holdings in Chevron by 2.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 62,404 shares of the oil and gas company's stock valued at $9,039,000 after purchasing an additional 1,767 shares during the last quarter. Bard Financial Services Inc. boosted its position in Chevron by 0.3% during the fourth quarter. Bard Financial Services Inc. now owns 62,735 shares of the oil and gas company's stock worth $9,087,000 after purchasing an additional 200 shares during the period. Doliver Advisors LP increased its stake in shares of Chevron by 0.9% in the fourth quarter. Doliver Advisors LP now owns 7,984 shares of the oil and gas company's stock worth $1,156,000 after purchasing an additional 70 shares in the last quarter. Finally, Insight Wealth Strategies LLC raised its position in shares of Chevron by 0.5% in the fourth quarter. Insight Wealth Strategies LLC now owns 201,015 shares of the oil and gas company's stock valued at $29,115,000 after purchasing an additional 1,092 shares during the period. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVX. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. BNP Paribas lowered Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of "Hold" and a consensus price target of $165.27.

Chevron Stock Performance

Chevron stock opened at $138.53 on Friday. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $243.90 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The firm's fifty day moving average price is $149.76 and its 200-day moving average price is $152.56.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.93 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.94%. Chevron's payout ratio is currently 70.37%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company's stock.

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.

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