Great Valley Advisor Group Inc. Has $15.68 Million Stake in Chevron Co. (NYSE:CVX)

Great Valley Advisor Group Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 64.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,253 shares of the oil and gas company's stock after purchasing an additional 42,358 shares during the quarter. Great Valley Advisor Group Inc.'s holdings in Chevron were worth $15,679,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after buying an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock valued at $4,613,960,000 after acquiring an additional 746,806 shares during the period. Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth $3,017,750,000. Northern Trust Corp raised its stake in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after buying an additional 410,460 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Up 0.9%

CVX traded up $1.24 during trading 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 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 Co. has a fifty-two week low of $132.04 and a fifty-two 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 stock's 50-day simple moving average is $144.12 and its two-hundred day simple moving average is $151.03.

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 (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during 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 firm's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.93 EPS. As a group, equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.96%. Chevron's dividend payout ratio (DPR) is 78.17%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. HSBC cut Chevron from a "buy" rating to a "hold" rating and decreased their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Finally, Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus target price of $160.24.

About Chevron

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.