4,362 Shares in Chevron Co. (NYSE:CVX) Bought by Chancellor Financial Group WB LP

Chancellor Financial Group WB LP purchased a new position in shares of Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,362 shares of the oil and gas company's stock, valued at approximately $632,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Norges Bank bought a new position in Chevron during the fourth quarter worth about $3,017,750,000. Raymond James Financial Inc. bought a new position in shares of Chevron in the fourth quarter valued at approximately $1,036,302,000. Bank of New York Mellon Corp raised its stake in shares of 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 acquiring an additional 2,432,756 shares during the last quarter. Amundi raised 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 valued at $1,323,549,000 after acquiring an additional 1,910,262 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of Chevron by 11.4% in 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 acquiring an additional 1,440,808 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CVX shares. Wells Fargo & Company cut their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and cut their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Finally, TD Cowen dropped their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Trading Down 1.1%

Shares of CVX stock traded down $1.48 on Friday, hitting $136.43. The stock had a trading volume of 12,856,437 shares, compared to its average volume of 8,115,079. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market cap of $238.26 billion, a P/E ratio of 14.04, 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. The company has a fifty day moving average price of $141.88 and a two-hundred day moving average price of $150.57.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly 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 quarter in the previous year, the business earned $2.93 EPS. The firm's revenue was down 2.3% on a year-over-year basis. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared 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. This represents a $6.84 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

Chevron 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.