Polar Asset Management Partners Inc. Makes New $24.04 Million Investment in Chevron Co. (NYSE:CVX)

Polar Asset Management Partners Inc. purchased a new stake in Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 166,000 shares of the oil and gas company's stock, valued at approximately $24,043,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Life Planning Partners Inc purchased a new position in Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP purchased a new position in shares of Chevron during the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC boosted 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 worth $30,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. UBS Group reduced their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Finally, Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Chevron has an average rating of "Hold" and an average price target of $160.24.

Chevron Trading Up 0.9%

NYSE CVX traded up $1.24 during mid-day trading on Tuesday, hitting $137.78. The company's stock had a trading volume of 8,339,036 shares, compared to its average volume of 8,082,749. The firm has a market capitalization of $240.62 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The stock's fifty 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 issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for 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 business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.93 EPS. Research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.96%. Chevron's dividend 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.