PKO Investment Management Joint Stock Co bought a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 52,873 shares of the oil and gas company's stock, valued at approximately $7,658,000. Chevron accounts for 1.0% of PKO Investment Management Joint Stock Co's investment portfolio, making the stock its 19th biggest position.
Other large investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in Chevron during the 4th quarter valued at $25,000. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron in the fourth quarter worth $29,000. 10Elms LLP acquired a new position in shares of Chevron in the fourth quarter worth $29,000. Finally, Fairway Wealth LLC increased its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. TD Cowen dropped their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $160.24.
View Our Latest Research Report on CVX
Chevron Stock Performance
Shares of NYSE:CVX traded down $1.48 during midday trading on Friday, hitting $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 stock has a market capitalization of $238.26 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.46 and a beta of 0.83. The stock's 50 day simple moving average is $141.88 and its 200 day simple moving average is $150.57. 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 quick ratio of 0.80 and a current ratio of 1.07.
Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for 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% compared to the same quarter last year. During the same period last year, the business posted $2.93 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.
Chevron Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.
Chevron Profile
(
Free Report)
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.
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