Everett Harris & Co. CA Buys 30,212 Shares of Chevron Co. (NYSE:CVX)

Everett Harris & Co. CA grew its position in shares of Chevron Co. (NYSE:CVX) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 581,069 shares of the oil and gas company’s stock after acquiring an additional 30,212 shares during the quarter. Chevron comprises 1.2% of Everett Harris & Co. CA’s holdings, making the stock its 20th largest holding. Everett Harris & Co. CA’s holdings in Chevron were worth $86,672,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P grew its stake in shares of Chevron by 85.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after acquiring an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC grew its holdings in shares of Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 1,476 shares in the last quarter. GQG Partners LLC increased its position in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after acquiring an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC lifted its holdings in Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares during the period. Finally, First Trust Advisors LP boosted its position in Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after purchasing an additional 250,840 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX traded up $1.39 during mid-day trading on Thursday, reaching $157.74. 8,232,104 shares of the company were exchanged, compared to its average volume of 8,778,653. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.88. The company’s 50 day moving average price is $151.60 and its 200 day moving average price is $152.67. The stock has a market capitalization of $292.97 billion, a PE ratio of 13.90, a PEG ratio of 2.38 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during 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 company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.09 EPS. Sell-side analysts forecast that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.13%. Chevron’s dividend payout ratio (DPR) is 57.39%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler reduced their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research note on Tuesday, January 16th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. Mizuho increased their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.39.

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.