NorthRock Partners LLC Buys 27,096 Shares of Chevron Co. (NYSE:CVX)

NorthRock Partners LLC increased its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 210.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,958 shares of the oil and gas company's stock after buying an additional 27,096 shares during the period. NorthRock Partners LLC's holdings in Chevron were worth $5,788,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Chevron in the fourth quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. purchased a new position in shares of Chevron during the fourth quarter worth approximately $1,036,302,000. Bank of New York Mellon Corp raised its stake in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares in the last quarter. Amundi raised its stake in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after acquiring an additional 1,910,262 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after buying an additional 1,440,808 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Finally, Redburn Atlantic reissued a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Down 0.2%

Shares of Chevron stock traded down $0.22 during trading on Friday, hitting $142.04. The company's stock had a trading volume of 8,191,570 shares, compared to its average volume of 8,023,184. 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 company has a fifty day simple moving average of $146.65 and a two-hundred day simple moving average of $151.76. The company has a market capitalization of $248.06 billion, a PE ratio of 14.61, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results 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. The company 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%. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.93 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current 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 paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is 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.