United Capital Management of KS Inc. Acquires 1,063 Shares of Chevron Co. (NYSE:CVX)

United Capital Management of KS Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,898 shares of the oil and gas company’s stock after acquiring an additional 1,063 shares during the period. Chevron makes up 1.2% of United Capital Management of KS Inc.’s portfolio, making the stock its 28th biggest holding. United Capital Management of KS Inc.’s holdings in Chevron were worth $1,294,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Commerce Bank lifted its stake 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 worth $128,157,000 after purchasing an additional 10,936 shares during the period. Telemus Capital LLC lifted its stake in Chevron by 3.8% during the third quarter. Telemus Capital LLC now owns 27,732 shares of the oil and gas company’s stock worth $3,391,000 after purchasing an additional 1,025 shares during the period. Renaissance Technologies LLC lifted its stake 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 worth $349,120,000 after purchasing an additional 2,175,800 shares during the period. Advisory Services Network LLC lifted its stake in Chevron by 1.7% during the third quarter. Advisory Services Network LLC now owns 66,891 shares of the oil and gas company’s stock worth $8,180,000 after purchasing an additional 1,122 shares during the period. Finally, Captrust Financial Advisors lifted its stake in Chevron by 21.2% during the second quarter. Captrust Financial Advisors now owns 38,877 shares of the oil and gas company’s stock worth $4,915,000 after purchasing an additional 6,788 shares during the period. Institutional investors own 66.07% of the company’s stock.

In other Chevron news, insider Jeanette L. Ourada sold 7,200 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $116.50, for a total value of $838,800.00. Following the transaction, the insider now directly owns 7,200 shares of the company’s stock, valued at $838,800. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $112.20, for a total transaction of $532,950.00. Following the completion of the transaction, the insider now directly owns 4,750 shares in the company, valued at $532,950. The disclosure for this sale can be found here. In the last three months, insiders sold 21,450 shares of company stock valued at $2,561,340. 0.46% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on the stock. Tudor Pickering assumed coverage on shares of Chevron in a report on Friday, March 1st. They set a “buy” rating and a $133.00 price objective for the company. Credit Suisse Group reaffirmed a “buy” rating and set a $130.00 price objective on shares of Chevron in a report on Wednesday, January 23rd. Cowen reaffirmed an “outperform” rating and set a $140.00 price objective (down previously from $160.00) on shares of Chevron in a report on Thursday, February 28th. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Friday. Finally, Citigroup raised their price objective on shares of Chevron from $135.00 to $142.00 and gave the stock a “buy” rating in a report on Monday. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Chevron has an average rating of “Buy” and an average price target of $136.20.

Shares of Chevron stock traded up $0.38 during midday trading on Monday, reaching $120.14. The company had a trading volume of 13,188,446 shares, compared to its average volume of 6,594,437. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.25 and a quick ratio of 1.04. The firm has a market cap of $227.55 billion, a P/E ratio of 14.56, a P/E/G ratio of 3.79 and a beta of 1.03. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $131.08.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 1st. The oil and gas company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $42.35 billion during the quarter, compared to analyst estimates of $41.46 billion. Chevron had a net margin of 8.91% and a return on equity of 9.78%. Chevron’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 6.68 EPS for the current year.

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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.

Read More: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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