Chevron Co. (NYSE:CVX) Shares Acquired by Central Bank & Trust Co.

Central Bank & Trust Co. lifted its position in shares of Chevron Co. (NYSE:CVXFree Report) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,654 shares of the oil and gas company’s stock after acquiring an additional 240 shares during the quarter. Central Bank & Trust Co.’s holdings in Chevron were worth $992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Moneta Group Investment Advisors LLC raised its position in shares of Chevron by 104,997.3% during 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 acquiring an additional 24,467,521 shares in the last quarter. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $3,058,235,000. Imprint Wealth LLC grew its stake in Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after buying an additional 5,343,782 shares during the last quarter. Morgan Stanley grew its stake in Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Chevron by 570.0% during the 4th quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock worth $504,913,000 after buying an additional 2,393,200 shares during the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective for the company. in a research note on Tuesday, January 16th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Finally, Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.56.

View Our Latest Stock Analysis on CVX

Chevron Stock Down 0.1 %

CVX opened at $155.55 on Friday. The business has a 50 day moving average of $150.04 and a 200-day moving average of $153.18. The stock has a market capitalization of $288.90 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.83 and a beta of 1.12. 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 1-year low of $139.62 and a 1-year high of $172.88.

Chevron (NYSE:CVXGet Free Report) last announced its earnings results 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. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the previous year, the firm posted $4.09 earnings per share. Chevron’s revenue was down 16.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 13 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given 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 yield of 4.19%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

About Chevron

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXFree Report).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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