19,570 Shares in Chevron Co. (NYSE:CVX) Purchased by Challenger Wealth Management

Challenger Wealth Management acquired a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,570 shares of the oil and gas company's stock, valued at approximately $2,834,000. Chevron accounts for approximately 2.4% of Challenger Wealth Management's investment portfolio, making the stock its 10th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allianz SE bought a new position in Chevron during the fourth quarter valued at $9,369,000. Nicholas Company Inc. boosted its holdings in shares of Chevron by 4.3% in 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 boosted its holdings in shares of Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after acquiring an additional 2,755 shares during the period. Cerity Partners LLC boosted its holdings in shares of 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 worth $174,817,000 after acquiring an additional 52,307 shares during the period. Finally, Wedbush Securities Inc. boosted its holdings in shares of Chevron by 6.8% in the fourth quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company's stock worth $17,101,000 after acquiring an additional 7,557 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Piper Sandler cut their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $160.24.

Chevron Price Performance

NYSE CVX traded up $1.24 during trading hours on Tuesday, reaching $137.78. 8,339,036 shares of the stock traded hands, compared to its average volume of 8,082,749. The stock has a 50 day simple moving average of $144.12 and a two-hundred day simple moving average of $151.03. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company 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.

Chevron (NYSE:CVX - Get Free Report) last released 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 return on equity of 11.44% and a net margin of 8.71%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.93 earnings per share. On average, analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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 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 4.96%. Chevron's dividend payout ratio is currently 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.