Woodline Partners LP Purchases New Shares in Chevron Co. (NYSE:CVX)

Woodline Partners LP purchased a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 100,368 shares of the oil and gas company's stock, valued at approximately $14,537,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Life Planning Partners Inc acquired a new stake in Chevron during the fourth quarter valued at $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the fourth quarter valued at $29,000. Fairway Wealth LLC grew 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 valued at $30,000 after buying an additional 88 shares during the period. Finally, Navigoe LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

CVX opened at $135.57 on Thursday. 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 firm's 50-day moving average price is $145.61 and its 200 day moving average price is $151.50. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market capitalization of $236.75 billion, a PE ratio of 13.95, a PEG ratio of 1.46 and a beta of 0.83.

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, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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 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 presently 78.17%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. 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. UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Scotiabank lowered shares of 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. Barclays lowered shares of 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 report on Wednesday, April 23rd. Finally, HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and dropped their target price for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three research 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's stock. According to MarketBeat.com, the company 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.

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