Fullerton Fund Management Co Ltd. Buys 5,327 Shares of Chevron Co. (NYSE:CVX)

Fullerton Fund Management Co Ltd. lifted its position in Chevron Co. (NYSE:CVX) by 126.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,540 shares of the oil and gas company’s stock after buying an additional 5,327 shares during the quarter. Fullerton Fund Management Co Ltd.’s holdings in Chevron were worth $1,382,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CVX. Regent Peak Wealth Advisors LLC raised its stake in Chevron by 4.3% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock valued at $596,000 after acquiring an additional 168 shares during the period. CJM Wealth Advisers Ltd. raised its position in shares of Chevron by 5.1% in the fourth quarter. CJM Wealth Advisers Ltd. now owns 2,901 shares of the oil and gas company’s stock valued at $420,000 after purchasing an additional 140 shares during the period. First International Bank & Trust lifted its stake in shares of Chevron by 50.9% during the 4th quarter. First International Bank & Trust now owns 3,162 shares of the oil and gas company’s stock worth $458,000 after buying an additional 1,066 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Chevron by 17.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,038,871 shares of the oil and gas company’s stock worth $152,995,000 after buying an additional 157,272 shares during the period. Finally, ST Germain D J Co. Inc. raised its holdings in Chevron by 49.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 20,607 shares of the oil and gas company’s stock valued at $2,985,000 after acquiring an additional 6,822 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 1.1 %

Shares of NYSE CVX opened at $138.52 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a 50 day simple moving average of $147.91 and a 200 day simple moving average of $152.05. The firm 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.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping 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 company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the company earned $2.93 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.94%. Chevron’s dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Redburn Atlantic reissued a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, UBS Group cut their price objective 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $161.25.

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.