Leigh Baldwin & CO. LLC Buys Shares of 430,989 Chevron Co. (NYSE:CVX)

Leigh Baldwin & CO. LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 430,989 shares of the oil and gas company’s stock, valued at approximately $62,424,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Chevron by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after buying an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after purchasing an additional 746,806 shares during the last quarter. Norges Bank acquired a new position in Chevron in the fourth quarter valued at approximately $3,017,750,000. Northern Trust Corp increased its holdings in Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after buying an additional 410,460 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CVX shares. TD Cowen decreased their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Wells Fargo & Company reduced their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus target price of $161.25.

Chevron Trading Up 1.1%

Chevron stock opened at $138.52 on Monday. The stock has a 50-day simple moving average of $147.91 and a 200 day simple moving average of $152.07. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market capitalization of $243.88 billion, a P/E ratio of 14.25, a PEG ratio of 1.46 and a beta of 0.83. 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 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. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.93 EPS. Analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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

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.