Toronto Dominion Bank Boosts Position in Chevron Co. (NYSE:CVX)

Toronto Dominion Bank grew its stake in Chevron Co. (NYSE:CVX - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 791,870 shares of the oil and gas company's stock after purchasing an additional 86,719 shares during the period. Toronto Dominion Bank's holdings in Chevron were worth $114,694,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Warm Springs Advisors Inc. purchased a new stake in Chevron in the 4th quarter worth approximately $536,000. North Star Asset Management Inc. boosted its position in Chevron by 9.6% in the 4th quarter. North Star Asset Management Inc. now owns 12,967 shares of the oil and gas company's stock worth $1,878,000 after purchasing an additional 1,140 shares in the last quarter. Retirement Planning Group LLC NY purchased a new stake in Chevron in the 4th quarter worth approximately $258,000. Parr Mcknight Wealth Management Group LLC purchased a new stake in Chevron in the 4th quarter worth approximately $8,088,000. Finally, Pacific Point Advisors LLC purchased a new stake in Chevron in the 4th quarter worth approximately $257,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

CVX stock traded up $1.24 during midday trading on Tuesday, reaching $137.78. The stock had a trading volume of 8,339,036 shares, compared to its average volume of 8,082,747. The company's fifty day simple moving average is $144.12 and its 200 day simple moving average is $151.03. 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 has a market cap of $240.62 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96.

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 for the quarter, beating 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 for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The firm'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 declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.96%. Chevron's dividend payout ratio is presently 78.17%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. TD Cowen lowered their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Piper Sandler dropped their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $160.24.

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.