Chevron Co. (NYSE:CVX) Holdings Raised by Private Ocean LLC

Private Ocean LLC grew its stake in shares of Chevron Co. (NYSE:CVXFree Report) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,876 shares of the oil and gas company’s stock after purchasing an additional 188 shares during the period. Private Ocean LLC’s holdings in Chevron were worth $429,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Windsor Advisory Group LLC lifted its stake in Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 720 shares in the last quarter. Dechtman Wealth Management LLC purchased a new stake in Chevron in the 2nd quarter worth about $648,000. Renaissance Investment Group LLC lifted its stake in Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares in the last quarter. Altrius Capital Management Inc lifted its stake in Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after acquiring an additional 434 shares in the last quarter. Finally, Tsfg LLC lifted its stake in Chevron by 5.3% in the 3rd quarter. Tsfg LLC now owns 3,473 shares of the oil and gas company’s stock worth $586,000 after acquiring an additional 176 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVX shares. Jefferies Financial Group raised 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. 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. Piper Sandler dropped their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, 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 report on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $180.39.

Read Our Latest Research Report on Chevron

Chevron Stock Performance

CVX opened at $159.82 on Wednesday. The firm has a market capitalization of $296.83 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The stock’s 50 day moving average price is $152.56 and its two-hundred day moving average price is $152.41. 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 12-month low of $139.62 and a 12-month high of $172.88.

Chevron (NYSE:CVXGet Free Report) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the company earned $4.09 EPS. The company’s quarterly revenue was down 16.5% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 13.13 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. 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.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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