Ethic Inc. Has $3.28 Million Position in Chevron Co. (NYSE:CVX)

Ethic Inc. boosted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 69.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,646 shares of the oil and gas company's stock after acquiring an additional 9,265 shares during the quarter. Ethic Inc.'s holdings in Chevron were worth $3,280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVX. Life Planning Partners Inc purchased a new position in Chevron in the 4th quarter worth about $25,000. IMG Wealth Management Inc. purchased a new position in Chevron in the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the 4th quarter worth about $29,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Finally, Navigoe LLC purchased a new position in Chevron in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

CVX stock traded up $3.01 during trading on Monday, hitting $141.50. The company had a trading volume of 8,026,140 shares, compared to its average volume of 8,003,380. The company has a fifty day moving average price of $147.72 and a two-hundred day moving average price of $152.01. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $249.12 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.83%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio is 78.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Redburn Atlantic restated 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. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $161.25.

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.