Warm Springs Advisors Inc. Takes $536,000 Position in Chevron Co. (NYSE:CVX)

Warm Springs Advisors Inc. purchased a new position in shares of Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,699 shares of the oil and gas company's stock, valued at approximately $536,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after acquiring an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after purchasing an additional 746,806 shares in the last quarter. Norges Bank acquired a new stake in Chevron in the fourth quarter valued at approximately $3,017,750,000. Northern Trust Corp grew its holdings in Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after buying an additional 410,460 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company dropped their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Finally, DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Stock Performance

NYSE CVX opened at $136.66 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock's fifty day moving average is $144.66 and its two-hundred day moving average is $151.25. The firm has a market capitalization of $238.66 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating 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 analysts' expectations of $49.05 billion. During the same quarter in the previous year, the company posted $2.93 EPS. The company's revenue was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 5.01%. 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.

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