Tidal Investments LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Tidal Investments LLC lifted its position in Chevron Co. (NYSE:CVX - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,394 shares of the oil and gas company's stock after buying an additional 11,514 shares during the period. Tidal Investments LLC's holdings in Chevron were worth $15,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Regent Peak Wealth Advisors LLC increased its stake in Chevron by 4.3% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company's stock worth $596,000 after buying an additional 168 shares in the last quarter. Capital & Planning LLC boosted its stake in Chevron by 15.2% during the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock worth $243,000 after buying an additional 222 shares during the period. Merit Financial Group LLC raised its position in Chevron by 19.7% in the 4th quarter. Merit Financial Group LLC now owns 81,697 shares of the oil and gas company's stock worth $11,833,000 after purchasing an additional 13,443 shares during the period. Somerset Trust Co boosted its holdings in Chevron by 2.6% during the 4th quarter. Somerset Trust Co now owns 14,756 shares of the oil and gas company's stock valued at $2,137,000 after acquiring an additional 371 shares during the period. Finally, Helen Stephens Group LLC raised its stake in shares of Chevron by 4.8% during the fourth quarter. Helen Stephens Group LLC now owns 3,489 shares of the oil and gas company's stock valued at $505,000 after acquiring an additional 159 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CVX shares. Mizuho cut their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Truist Financial cut their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $171.00 to $152.00 in a 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Price Performance

CVX stock traded down $1.70 during midday trading on Wednesday, reaching $135.57. The stock had a trading volume of 9,064,660 shares, compared to its average volume of 8,055,564. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company's fifty day simple moving average is $146.04 and its 200 day simple moving average is $151.61. The company has a market cap of $236.75 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Chevron Company 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.