Lighthouse Investment Partners LLC bought a new position in Chevron Co. (NYSE:CVX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 53,444 shares of the oil and gas company's stock, valued at approximately $7,741,000.
Several other large investors have also recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the fourth quarter valued at $29,000. Fairway Wealth LLC increased its holdings in shares of 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 purchasing an additional 88 shares during the period. Navigoe LLC bought a new position in Chevron during the fourth quarter valued at about $33,000. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.
Chevron Price Performance
Shares of NYSE CVX traded up $0.47 during midday trading on Thursday, reaching $142.14. 7,537,625 shares of the company traded hands, compared to its average volume of 8,014,371. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. 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 50-day simple moving average is $147.20 and its 200-day simple moving average is $151.87. The firm has a market cap of $248.23 billion, a PE ratio of 14.62, a PEG ratio of 1.46 and a beta of 0.83.
Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping 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 business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.
Chevron Announces Dividend
The company also recently announced 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 of this dividend is Monday, May 19th. Chevron's payout ratio is 78.17%.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on CVX shares. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research note on Tuesday, May 6th. Finally, Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of "Hold" and an average price target of $160.24.
Get Our Latest Research Report on CVX
About Chevron
(
Free Report)
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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