Ameriflex Group Inc. Makes New $1.63 Million Investment in Chevron Co. (NYSE:CVX)

Ameriflex Group Inc. acquired a new position in shares of Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,937 shares of the oil and gas company's stock, valued at approximately $1,632,000. Chevron comprises approximately 0.7% of Ameriflex Group Inc.'s holdings, making the stock its 26th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Chevron in the fourth quarter valued at $3,017,750,000. Raymond James Financial Inc. purchased a new stake in Chevron in the fourth quarter valued at $1,036,302,000. Bank of New York Mellon Corp raised its position 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 valued at $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Amundi raised its position in Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. Finally, Capital World Investors raised its holdings in shares of Chevron by 11.4% in the 4th 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 period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

Shares of NYSE CVX traded up $1.14 during trading hours on Thursday, reaching $137.16. The stock had a trading volume of 4,138,665 shares, compared to its average volume of 8,795,165. The firm has a market cap of $239.53 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.46 and a beta of 0.83. 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 Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a 50-day moving average of $143.01 and a 200-day moving average of $150.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the business earned $2.93 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. Equities research analysts predict 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. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.99%. Chevron's payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Redburn Atlantic reaffirmed 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. Wells Fargo & Company lowered 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. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average 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.