Northstar Financial Companies Inc. Acquires Shares of 9,372 Chevron Co. (NYSE:CVX)

Northstar Financial Companies Inc. bought a new stake in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,372 shares of the oil and gas company's stock, valued at approximately $1,357,000. Chevron makes up about 1.3% of Northstar Financial Companies Inc.'s investment portfolio, making the stock its 14th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. IMG Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC grew its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Finally, Navigoe LLC bought a new position in Chevron during the fourth quarter valued at approximately $33,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Piper Sandler reduced their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Finally, Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $160.24.

Chevron Trading Down 1.1%

CVX stock traded down $1.48 on Friday, reaching $136.43. The company's stock had a trading volume of 12,856,437 shares, compared to its average volume of 8,115,079. The business has a fifty day simple moving average of $141.88 and a two-hundred day simple moving average of $150.57. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market cap of $238.26 billion, a PE ratio of 14.04, a PEG ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared 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 5.01%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio 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.