8,962 Shares in Chevron Co. (NYSE:CVX) Purchased by Ames National Corp

Ames National Corp acquired a new position in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,962 shares of the oil and gas company's stock, valued at approximately $1,298,000. Chevron accounts for approximately 0.8% of Ames National Corp's investment portfolio, making the stock its 28th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth about $3,017,750,000. Raymond James Financial Inc. bought a new stake in Chevron during the 4th quarter valued at about $1,036,302,000. Bank of New York Mellon Corp raised its holdings in Chevron by 17.3% in 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 buying an additional 2,432,756 shares during the last quarter. Amundi lifted its stake in shares of Chevron by 27.7% in 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 in the last quarter. Finally, Capital World Investors grew its holdings in shares of 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 valued at $2,039,288,000 after buying an additional 1,440,808 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. Piper Sandler decreased their price objective on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Finally, Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Price Performance

NYSE CVX opened at $137.21 on Wednesday. The company has a 50-day moving average price of $146.04 and a 200-day moving average price of $151.61. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $239.62 billion, a P/E ratio of 14.12, a PEG ratio of 1.46 and a beta of 0.83.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.99%. Chevron's dividend payout ratio (DPR) is 78.17%.

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.

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