Chevron Co. (NYSE:CVX) Shares Acquired by Nvest Financial LLC

Nvest Financial LLC lifted its stake in shares of Chevron Co. (NYSE:CVXFree Report) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,726 shares of the oil and gas company’s stock after acquiring an additional 1,843 shares during the period. Chevron accounts for approximately 1.8% of Nvest Financial LLC’s portfolio, making the stock its 18th biggest holding. Nvest Financial LLC’s holdings in Chevron were worth $2,346,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in 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 worth $27,303,688,000 after buying an additional 458,080 shares during the period. Morgan Stanley raised 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 worth $5,761,223,000 after purchasing an additional 2,244,995 shares during the period. Moneta Group Investment Advisors LLC raised its holdings 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. Charles Schwab Investment Management Inc. raised its holdings 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 worth $4,059,834,000 after purchasing an additional 368,898 shares during the period. Finally, Northern Trust Corp raised its holdings 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 worth $3,828,537,000 after purchasing an additional 569,850 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX stock opened at $159.82 on Wednesday. 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 Co. has a 52-week low of $139.62 and a 52-week high of $172.88. The stock’s 50 day moving average is $152.56 and its two-hundred day moving average is $152.41. The company has a market capitalization of $296.83 billion, a PE ratio of 14.07, a P/E/G ratio of 2.42 and a beta of 1.12.

Chevron (NYSE:CVXGet Free Report) 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 the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the previous year, the business earned $4.09 EPS. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. Analysts predict that Chevron Co. will post 13.13 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders 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 annualized dividend and a yield of 4.08%. Chevron’s payout ratio is currently 57.39%.

Analysts Set New Price Targets

CVX has been the topic of a number of research reports. Piper Sandler cut their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective on the stock. in a report on Tuesday, January 16th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.39.

View Our Latest Research Report on Chevron

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; 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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