WBI Investments LLC bought a new position in Chevron Co. (NYSE:CVX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,819 shares of the oil and gas company's stock, valued at approximately $1,422,000.
Several other institutional investors also recently bought and sold shares of CVX. Life Planning Partners Inc bought a new stake in Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new stake in Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC grew its position in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Finally, Navigoe LLC purchased a new stake in shares of Chevron in the fourth quarter worth approximately $33,000. 72.42% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on CVX. Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. TD Cowen dropped their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company dropped their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $160.24.
Check Out Our Latest Stock Report on CVX
Chevron Stock Down 0.2%
Shares of NYSE:CVX opened at $142.04 on Monday. The company has a market capitalization of $248.06 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.46 and a beta of 0.83. 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 stock's fifty day simple moving average is $146.65 and its 200-day simple moving average is $151.81.
Chevron (NYSE:CVX - Get Free Report) last issued 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 company 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%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.93 EPS. As a group, equities research analysts forecast 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 given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.
Chevron Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX - Free Report).
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