Nuveen Asset Management LLC Grows Holdings in Chevron Co. (NYSE:CVX)

Nuveen Asset Management LLC increased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,842,230 shares of the oil and gas company's stock after acquiring an additional 233,932 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.44% of Chevron worth $1,135,869,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. UBS Group dropped their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Finally, Mizuho dropped their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Three 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 company. According to data from MarketBeat.com, Chevron has an average rating of "Hold" and an average target price of $160.24.

Chevron Price Performance

NYSE CVX traded down $0.22 during trading hours on Friday, reaching $142.04. The company's stock had a trading volume of 8,191,570 shares, compared to its average volume of 8,033,326. The stock has a market cap of $248.06 billion, a PE ratio of 14.61, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company's 50-day moving average is $146.65 and its two-hundred day moving average is $151.79. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.93 EPS. Analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.82%. 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.