Sutton Place Investors LLC Purchases New Position in Chevron Co. (NYSE:CVX)

Sutton Place Investors LLC bought a new stake in Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,705 shares of the oil and gas company's stock, valued at approximately $1,895,000. Chevron makes up about 1.4% of Sutton Place Investors LLC's portfolio, making the stock its 19th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. NCM Capital Management LLC boosted its stake in shares of Chevron by 1.2% during the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company's stock valued at $909,000 after buying an additional 65 shares during the period. Sweet Financial Partners LLC raised its holdings in shares of Chevron by 0.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company's stock valued at $1,477,000 after purchasing an additional 65 shares in the last quarter. Strategic Investment Advisors MI raised its holdings in shares of Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company's stock valued at $296,000 after purchasing an additional 65 shares in the last quarter. Alera Investment Advisors LLC raised its holdings in shares of Chevron by 1.0% during the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company's stock valued at $1,094,000 after purchasing an additional 67 shares in the last quarter. Finally, Global Trust Asset Management LLC raised its holdings in shares of Chevron by 1.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company's stock valued at $1,155,000 after purchasing an additional 67 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 1.8 %

NYSE CVX traded down $2.93 during trading hours on Friday, hitting $158.96. The company's stock had a trading volume of 11,071,045 shares, compared to its average volume of 7,741,852. The stock has a fifty day moving average of $154.92 and a 200 day moving average of $152.14. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The firm has a market capitalization of $295.23 billion, a P/E ratio of 13.99, a PEG ratio of 2.44 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period in the prior year, the business posted $4.09 earnings per share. Chevron's revenue was down 16.5% compared to the same quarter last year. Equities research analysts forecast that Chevron Co. will post 13.24 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron's previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.10%. Chevron's dividend payout ratio (DPR) is 57.39%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company's stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CVX. Wells Fargo & Company lifted their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an "overweight" rating in a report on Thursday, April 4th. Barclays initiated coverage on shares of Chevron in a report on Wednesday. They set an "overweight" rating and a $203.00 price objective on the stock. TD Cowen downgraded shares of Chevron from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. DZ Bank downgraded shares of Chevron from a "buy" rating to a "hold" rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. Finally, Scotiabank upgraded shares of Chevron from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $170.00 to $195.00 in a report on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $183.60.

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.