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

Yoffe Investment Management LLC bought a new stake in Chevron Co. (NYSE:CVX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,971 shares of the oil and gas company's stock, valued at approximately $430,000.

Several other hedge funds have also recently made changes to their positions in CVX. Allianz SE acquired a new position in shares of Chevron in the 4th quarter valued at about $9,369,000. Nicholas Company Inc. grew its holdings in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after acquiring an additional 3,280 shares during the period. Applied Finance Capital Management LLC raised its position in Chevron by 1.6% during the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock valued at $26,044,000 after acquiring an additional 2,755 shares in the last quarter. Cerity Partners LLC lifted its holdings in Chevron by 4.5% in the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock valued at $174,817,000 after acquiring an additional 52,307 shares during the period. Finally, Wedbush Securities Inc. lifted its holdings in Chevron by 6.8% in the fourth quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company's stock valued at $17,101,000 after acquiring an additional 7,557 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. TD Cowen cut their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $160.24.

Chevron Price Performance

CVX traded up $1.45 on Thursday, hitting $137.47. 4,334,660 shares of the company's stock were exchanged, compared to its average volume of 8,068,162. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market cap of $240.08 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.46 and a beta of 0.83. The firm has a 50-day moving average price of $143.01 and a 200-day moving average price of $150.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

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

Chevron Announces Dividend

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 issued 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 4.98%. Chevron's dividend payout ratio is presently 78.17%.

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.