Coerente Capital Management Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Coerente Capital Management lifted its holdings in Chevron Co. (NYSE:CVXFree Report) by 2.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,540 shares of the oil and gas company’s stock after acquiring an additional 565 shares during the quarter. Chevron makes up about 0.6% of Coerente Capital Management’s holdings, making the stock its 24th largest holding. Coerente Capital Management’s holdings in Chevron were worth $3,064,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CVX. Moneta Group Investment Advisors LLC lifted its position 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 worth $4,395,858,000 after purchasing an additional 24,467,521 shares during the period. Norges Bank purchased a new stake in shares of Chevron in the 4th quarter worth approximately $3,058,235,000. Imprint Wealth LLC lifted its position in shares of Chevron by 15,457.0% in 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 purchasing an additional 5,343,782 shares during the period. Morgan Stanley lifted its position in shares of Chevron by 12.7% in 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 purchasing an additional 3,711,923 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of Chevron by 570.0% in 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 purchasing an additional 2,393,200 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVX. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday. DZ Bank lowered shares of 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 upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Monday, January 8th. Finally, UBS Group reduced their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $180.39.

Read Our Latest Research Report on CVX

Chevron Stock Up 0.8 %

NYSE:CVX opened at $159.03 on Tuesday. The firm has a market capitalization of $295.36 billion, a P/E ratio of 14.00, a PEG ratio of 2.42 and a beta of 1.12. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88. The company’s fifty day moving average price is $152.23 and its 200-day moving average price is $152.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVXGet Free Report) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.09 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued 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 dividend on an annualized basis and a yield of 4.10%. Chevron’s dividend payout ratio is 57.39%.

Chevron Profile

(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; 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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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