Chevron Co. (NYSE:CVX) Shares Bought by First Manhattan CO. LLC.

First Manhattan CO. LLC. raised its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,442 shares of the oil and gas company's stock after buying an additional 3,091 shares during the quarter. First Manhattan CO. LLC.'s holdings in Chevron were worth $6,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allianz SE bought a new position in shares of Chevron during the fourth quarter valued at $9,369,000. Nicholas Company Inc. boosted its position in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after purchasing an additional 3,280 shares during the last quarter. Applied Finance Capital Management LLC boosted its position in Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after purchasing an additional 2,755 shares during the last quarter. Cerity Partners LLC boosted its position in Chevron by 4.5% in the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock worth $174,817,000 after purchasing an additional 52,307 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd purchased a new position in Chevron in the fourth quarter worth about $594,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. UBS Group lowered their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company lowered their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Chevron has an average rating of "Hold" and a consensus price target of $161.25.

Chevron Stock Performance

Shares of CVX traded up $3.01 during trading hours on Monday, reaching $141.50. 8,026,140 shares of the company traded hands, compared to its average volume of 8,003,375. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average price of $147.91 and a 200-day moving average price of $152.07. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market capitalization of $249.12 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.46 and a beta of 0.83.

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 (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the business posted $2.93 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.83%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) 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.