JARISLOWSKY FRASER Ltd Has $4.99 Million Stake in Chevron Co. (NYSE:CVX)

JARISLOWSKY FRASER Ltd cut its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,417 shares of the oil and gas company's stock after selling 1,968 shares during the period. JARISLOWSKY FRASER Ltd's holdings in Chevron were worth $4,985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the 4th quarter worth $29,000. Fairway Wealth LLC increased its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the last quarter. Navigoe LLC bought a new stake in Chevron in the 4th quarter valued at about $33,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Chevron during the fourth quarter valued at about $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CVX. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday. Wells Fargo & Company decreased their price objective 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. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Finally, Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $160.88.

Chevron Stock Up 0.3%

NYSE CVX traded up $0.48 during trading hours on Tuesday, reaching $142.10. 1,701,659 shares of the company traded hands, compared to its average volume of 8,895,256. 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 12 month low of $132.04 and a 12 month high of $168.96. The company has a 50 day moving average of $147.72 and a two-hundred day moving average of $152.01. The stock has a market capitalization of $250.17 billion, a PE ratio of 14.63, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS 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 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 business earned $2.93 earnings per share. Chevron's revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Chevron Company 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.