Fullerton Fund Management Co Ltd. Buys 5,327 Shares of Chevron Co. (NYSE:CVX)

Fullerton Fund Management Co Ltd. boosted its stake in Chevron Co. (NYSE:CVX - Free Report) by 126.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,540 shares of the oil and gas company's stock after acquiring an additional 5,327 shares during the quarter. Fullerton Fund Management Co Ltd.'s holdings in Chevron were worth $1,382,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Elefante Mark B bought a new stake in Chevron during the 4th quarter worth about $2,281,000. Ethic Inc. grew its stake in Chevron by 69.2% in the 4th quarter. Ethic Inc. now owns 22,646 shares of the oil and gas company's stock valued at $3,280,000 after buying an additional 9,265 shares during the last quarter. Ensign Peak Advisors Inc grew its stake in Chevron by 3.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 2,006,836 shares of the oil and gas company's stock valued at $290,670,000 after buying an additional 74,924 shares during the last quarter. First Manhattan CO. LLC. grew its stake in Chevron by 7.9% in the 4th quarter. First Manhattan CO. LLC. now owns 42,442 shares of the oil and gas company's stock valued at $6,440,000 after buying an additional 3,091 shares during the last quarter. Finally, Fred Alger Management LLC grew its position in shares of Chevron by 2.0% during the 4th quarter. Fred Alger Management LLC now owns 66,607 shares of the oil and gas company's stock worth $9,647,000 after purchasing an additional 1,281 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 2.2%

Shares of CVX traded up $3.01 during mid-day trading on Monday, reaching $141.50. The company's stock had a trading volume of 8,026,140 shares, compared to its average volume of 8,003,375. The stock has a market cap of $249.12 billion, a PE ratio of 14.56, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company's fifty day moving average price is $147.91 and its two-hundred day moving average price is $152.07.

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, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.93 EPS. On average, analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.83%. Chevron's dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

CVX has been the subject of several research reports. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Truist Financial reduced their price target 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. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Hold" and an average target price of $161.25.

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.