First Manhattan CO. LLC. Purchases 3,091 Shares of Chevron Co. (NYSE:CVX)

First Manhattan CO. LLC. increased its position in Chevron Co. (NYSE:CVX) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,442 shares of the oil and gas company’s stock after purchasing an additional 3,091 shares during the period. First Manhattan CO. LLC.’s holdings in Chevron were worth $6,440,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the fourth quarter worth $29,000. Fairway Wealth LLC raised its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the last quarter. Finally, Navigoe LLC bought a new position in Chevron during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $138.52 on Friday. 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 Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market cap of $243.88 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The stock has a fifty day moving average of $147.91 and a 200-day moving average of $152.05.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the firm earned $2.93 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.94%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Raymond James reduced their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $161.25.

Chevron Company Profile

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.