Americana Partners LLC Buys 5,767 Shares of Chevron Corporation $CVX

Key Points

• Americana Partners LLC increased its Chevron stake by 2.2% in the fourth quarter, buying 5,767 shares and bringing its total holdings to 264,006 shares worth about $40.2 million.
• Wall Street sentiment remains constructive on Chevron, with analysts issuing a consensus “Moderate Buy” and an average price target of $204.22, while several firms recently raised or reaffirmed bullish ratings.
• Chevron reported solid quarterly results and a dividend, beating EPS expectations at $1.41 per share and declaring a quarterly dividend of $1.78 per share, implying a 3.7% annualized yield.

Americana Partners LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,006 shares of the oil and gas company's stock after buying an additional 5,767 shares during the period. Chevron makes up about 1.1% of Americana Partners LLC's investment portfolio, making the stock its 25th largest holding. Americana Partners LLC's holdings in Chevron were worth $40,237,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter worth $33,000. Daytona Street Capital LLC bought a new position in Chevron during the fourth quarter valued at approximately $44,000. Turning Point Benefit Group Inc. bought a new position in Chevron during the third quarter valued at $49,000. Maseco LLP bought a new position in Chevron during the fourth quarter valued at $49,000. Finally, High Point Wealth Management LLC bought a new position in Chevron during the fourth quarter valued at $53,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CVX shares. BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective for the company in a research note on Friday, April 17th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Scotiabank raised their price objective on Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. TD Cowen raised their price objective on Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a research note on Friday, May 8th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $190.00 target price on shares of Chevron in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.22.

Chevron Trading Up 0.3%

NYSE CVX opened at $191.51 on Friday. The company has a 50 day moving average price of $193.54 and a 200 day moving average price of $174.60. Chevron Corporation has a 52 week low of $134.06 and a 52 week high of $214.71. The firm has a market cap of $381.42 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. 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 - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period in the prior year, the company posted $2.18 EPS. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Corporation will post 15.43 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron's dividend payout ratio is presently 123.40%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
• Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 272,624 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer directly owned 31,266 shares of the company's stock, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Benjamin Walz sold 11,600 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total transaction of $2,187,528.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,179,699 shares of company stock worth $224,675,517 in the last three months. 0.56% of the stock is owned by company 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.

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