Rafferty Asset Management LLC Has $56.90 Million Stock Position in Chevron Co. (NYSE:CVX)

Rafferty Asset Management LLC lessened its stake in Chevron Co. (NYSE:CVX - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 392,810 shares of the oil and gas company's stock after selling 5,991 shares during the quarter. Rafferty Asset Management LLC's holdings in Chevron were worth $56,895,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. TFB Advisors LLC lifted its stake in shares of Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after buying an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. lifted its position in Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after acquiring an additional 66 shares during the last quarter. Meridian Financial Partners LLC boosted its stake in Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company's stock worth $1,943,000 after buying an additional 67 shares in the last quarter. Finally, Western Pacific Wealth Management LP lifted its stake in Chevron by 14.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock worth $75,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.8%

Shares of CVX opened at $141.22 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company's fifty day moving average is $147.20 and its two-hundred day moving average is $151.87. The firm has a market cap of $246.63 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted 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 business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the business posted $2.93 EPS. The company's quarterly revenue was down 2.3% on a year-over-year basis. Analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.84%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. TD Cowen decreased their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $160.24.

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.

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