Scissortail Wealth Management LLC Purchases 5,024 Shares of Chevron Co. (NYSE:CVX)

Scissortail Wealth Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 23,923.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,045 shares of the oil and gas company's stock after purchasing an additional 5,024 shares during the period. Scissortail Wealth Management LLC's holdings in Chevron were worth $731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Chevron during the fourth quarter worth $3,017,750,000. Raymond James Financial Inc. bought a new position in Chevron during the 4th quarter worth $1,036,302,000. Bank of New York Mellon Corp raised its position in Chevron by 17.3% during the 4th 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 purchasing an additional 2,432,756 shares during the last quarter. Amundi lifted its holdings in Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the period. Finally, Capital World Investors grew its position in shares of Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after buying an additional 1,440,808 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVX. Wells Fargo & Company lowered their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Mizuho dropped their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday. Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Finally, Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $160.24.

Chevron Trading Down 0.2%

NYSE:CVX opened at $142.04 on Friday. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $248.06 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.46 and a beta of 0.83. The firm has a fifty day simple moving average of $146.65 and a two-hundred day simple moving average of $151.76.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. The business's revenue was down 2.3% on a year-over-year basis. Analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.82%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Chevron 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.

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