Chevron Co. (NYSE:CVX) Shares Purchased by Diligent Investors LLC

Diligent Investors LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,962 shares of the oil and gas company’s stock after buying an additional 341 shares during the period. Chevron comprises 1.0% of Diligent Investors LLC’s investment portfolio, making the stock its 15th largest position. Diligent Investors LLC’s holdings in Chevron were worth $3,574,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Chevron by 0.3% during the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after acquiring an additional 458,080 shares during the period. Morgan Stanley increased its holdings in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after purchasing an additional 2,244,995 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after buying an additional 368,898 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after buying an additional 569,850 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CVX shares. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research report on Tuesday, February 6th. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Piper Sandler reduced their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price for the company. in a research report on Tuesday, January 16th. Finally, TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.11.

Chevron Stock Down 0.1 %

Shares of NYSE:CVX traded down $0.15 during trading on Monday, hitting $155.40. 7,236,156 shares of the company’s stock traded hands, compared to its average volume of 8,998,912. The company has a market cap of $288.62 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.84 and a beta of 1.12. The company has a 50-day moving average price of $150.16 and a 200-day moving average price of $153.09. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.88.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.09 EPS. As a group, research analysts forecast that Chevron Co. will post 13.01 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is currently 57.39%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.