Michels Family Financial LLC Buys Shares of 10,908 Chevron Co. (NYSE:CVX)

Michels Family Financial LLC acquired a new position in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,908 shares of the oil and gas company's stock, valued at approximately $1,580,000. Chevron comprises about 1.4% of Michels Family Financial LLC's holdings, making the stock its 15th biggest holding.

Several other large investors also recently added to or reduced their stakes in CVX. Geode Capital Management LLC increased its stake in shares of Chevron by 1.1% in the fourth 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 purchasing an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 worth $4,613,960,000 after buying an additional 746,806 shares in the last quarter. Norges Bank bought a new stake in Chevron during the fourth quarter valued at about $3,017,750,000. Northern Trust Corp lifted its position in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after acquiring an additional 410,460 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Mizuho decreased their target price 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 shares of Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Piper Sandler dropped their price objective on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Trading Up 0.9%

Shares of Chevron stock traded up $1.24 during trading on Tuesday, hitting $137.78. The stock had a trading volume of 8,336,014 shares, compared to its average volume of 8,082,699. Chevron Co. has a 12 month low of $132.04 and a 12 month 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 firm's fifty day simple moving average is $144.12 and its 200-day simple moving average is $151.03. The stock has a market cap of $240.62 billion, a PE ratio of 14.17, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.93 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.96%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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.