Nebula Research & Development LLC Purchases 5,165 Shares of Chevron Co. (NYSE:CVX)

Nebula Research & Development LLC grew its stake in Chevron Co. (NYSE:CVX - Free Report) by 127.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,208 shares of the oil and gas company's stock after buying an additional 5,165 shares during the period. Nebula Research & Development LLC's holdings in Chevron were worth $1,334,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after buying an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after purchasing an additional 746,806 shares during the period. Norges Bank bought a new stake in Chevron in the fourth quarter valued at approximately $3,017,750,000. Fisher Asset Management LLC boosted its stake in shares of Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after purchasing an additional 410,460 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Chevron by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock worth $2,502,850,000 after purchasing an additional 79,917 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Down 0.1 %

Shares of CVX stock traded down $0.09 during mid-day trading on Thursday, hitting $135.97. The company's stock had a trading volume of 5,248,807 shares, compared to its average volume of 7,948,989. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The business has a 50-day moving average price of $150.55 and a 200 day moving average price of $152.70. 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 $239.39 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company posted $3.45 EPS. Research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 5.03%. Chevron's dividend payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Royal Bank of Canada restated an "outperform" rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Redburn Atlantic reissued a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average target price of $165.27.

Insiders Place Their Bets

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

Chevron Profile

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.