Cypress Asset Management Inc. TX Purchases New Holdings in Chevron Co. (NYSE:CVX)

Cypress Asset Management Inc. TX bought a new position in shares of Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,083 shares of the oil and gas company's stock, valued at approximately $1,956,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. TFB Advisors LLC increased its holdings in Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock worth $411,000 after acquiring an additional 66 shares during the period. W.H. Cornerstone Investments Inc. increased its holdings in shares of Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock worth $677,000 after buying an additional 66 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock worth $2,207,000 after buying an additional 66 shares during the last quarter. Western Pacific Wealth Management LP increased its holdings in shares of Chevron by 14.9% in the 4th quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock worth $75,000 after buying an additional 67 shares during the last quarter. Finally, Berkeley Capital Partners LLC increased its holdings in shares of Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after buying an additional 67 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Trading Down 1.3%

Chevron stock traded down $1.78 during trading hours on Wednesday, reaching $136.05. The stock had a trading volume of 6,858,338 shares, compared to its average volume of 8,077,876. The stock has a market cap of $237.60 billion, a PE ratio of 14.00, a PEG 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 debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a fifty day simple moving average of $143.58 and a 200-day simple moving average of $150.94.

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, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.93 EPS. Analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Piper Sandler decreased their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, UBS Group decreased their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $160.24.

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.