Lakeshore Capital Group Inc. Takes Position in Chevron Co. (NYSE:CVX)

Lakeshore Capital Group Inc. purchased a new position in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,249 shares of the oil and gas company's stock, valued at approximately $615,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Chevron in the fourth quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. purchased a new stake in Chevron in the 4th quarter worth about $1,036,302,000. Bank of New York Mellon Corp boosted its stake in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Amundi boosted its position in shares of Chevron by 27.7% during the 4th 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 boosted its position in shares of Chevron by 11.4% during 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 acquiring an additional 1,440,808 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Piper Sandler reduced their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Mizuho decreased their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. HSBC cut Chevron from a "buy" rating to a "hold" rating and cut their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, BNP Paribas lowered Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Stock Performance

CVX stock traded down $1.78 during trading on Wednesday, hitting $136.05. The company had a trading volume of 6,858,338 shares, compared to its average volume of 8,077,874. The firm has a market cap of $237.60 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a 50-day moving average price of $143.58 and a 200-day moving average price of $150.94. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 EPS. On average, analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid 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 payout ratio is currently 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.