Yoffe Investment Management LLC Invests $430,000 in Chevron Co. (NYSE:CVX)

Yoffe Investment Management LLC bought a new position in shares of Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,971 shares of the oil and gas company's stock, valued at approximately $430,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Chevron in the fourth quarter valued at about $3,017,750,000. Raymond James Financial Inc. acquired a new position in shares of Chevron during the fourth quarter worth about $1,036,302,000. Bank of New York Mellon Corp increased its stake in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Amundi grew its position in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the period. Finally, Capital World Investors grew its position in Chevron by 11.4% during the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after buying an additional 1,440,808 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Up 0.9%

Shares of NYSE CVX traded up $1.24 during mid-day trading on Tuesday, hitting $137.78. The company's stock had a trading volume of 8,339,036 shares, compared to its average volume of 8,082,749. The stock has a market cap of $240.62 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company's fifty day simple moving average is $144.12 and its 200-day simple moving average is $151.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $132.04 and a one year 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 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the company posted $2.93 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.96%. Chevron's dividend payout ratio is presently 78.17%.

Analyst Ratings Changes

Several analysts have recently commented on CVX shares. Piper Sandler lowered their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Raymond James lowered their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Company 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.