Vectors Research Management LLC Has $2.55 Million Position in Chevron Co. (NYSE:CVX)

Vectors Research Management LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,601 shares of the oil and gas company’s stock after selling 1,269 shares during the quarter. Vectors Research Management LLC’s holdings in Chevron were worth $2,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Chevron in the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. bought a new position in Chevron in the fourth quarter valued at about $1,036,302,000. Bank of New York Mellon Corp boosted its stake in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares in the last quarter. Amundi grew its holdings in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock valued at $2,039,288,000 after buying an additional 1,440,808 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. UBS Group reduced their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $160.00 to $143.00 in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.

Chevron Stock Up 1.7 %

Shares of NYSE:CVX opened at $137.68 on Monday. The firm has a market cap of $242.39 billion, a P/E ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The business’s 50 day simple moving average is $153.54 and its two-hundred day simple moving average is $153.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the company posted $3.45 EPS. As a group, research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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; 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.