Chevron Co. (CVX) Position Boosted by Bessemer Group Inc.

Bessemer Group Inc. boosted its holdings in Chevron Co. (NYSE:CVX) by 136.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,707,368 shares of the oil and gas company’s stock after purchasing an additional 986,516 shares during the quarter. Bessemer Group Inc.’s holdings in Chevron were worth $213,746,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CVX. Koshinski Asset Management Inc. boosted its stake in Chevron by 8.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 14,572 shares of the oil and gas company’s stock valued at $1,824,000 after acquiring an additional 1,077 shares in the last quarter. Bogart Wealth LLC boosted its stake in shares of Chevron by 3.7% during the fourth quarter. Bogart Wealth LLC now owns 15,316 shares of the oil and gas company’s stock worth $1,917,000 after buying an additional 542 shares during the period. Toronto Dominion Bank boosted its stake in shares of Chevron by 24.7% during the second quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock worth $68,894,000 after buying an additional 130,990 shares during the period. Shell Asset Management Co. boosted its stake in shares of Chevron by 41.2% during the third quarter. Shell Asset Management Co. now owns 506,198 shares of the oil and gas company’s stock worth $60,400,000 after buying an additional 147,738 shares during the period. Finally, Perpetual Ltd boosted its stake in shares of Chevron by 6.8% during the second quarter. Perpetual Ltd now owns 22,012 shares of the oil and gas company’s stock worth $2,297,000 after buying an additional 1,400 shares during the period. 64.98% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of NYSE:CVX opened at $114.76 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.03 and a quick ratio of 0.83. The stock has a market capitalization of $219,220.64, a P/E ratio of 31.02, a PEG ratio of 2.26 and a beta of 1.16. Chevron Co. has a 52 week low of $102.55 and a 52 week high of $133.88.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.22%. The company had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. During the same period last year, the business posted $0.22 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. sell-side analysts anticipate that Chevron Co. will post 6.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.12 dividend. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a yield of 3.90%. Chevron’s dividend payout ratio (DPR) is 121.08%.

Several equities research analysts have recently weighed in on CVX shares. Morgan Stanley increased their target price on shares of Chevron from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. BMO Capital Markets upgraded shares of Chevron from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $120.00 to $140.00 in a research note on Thursday, January 11th. Vetr upgraded shares of Chevron from a “buy” rating to a “strong-buy” rating and set a $135.52 target price for the company in a research note on Monday, February 5th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $113.61 to $138.00 in a research note on Wednesday, February 28th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $129.79.

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Chevron Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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