Nearwater Capital Markets Ltd Takes $30.41 Million Position in Chevron Co. (NYSE:CVX)

Nearwater Capital Markets Ltd acquired a new position in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 209,970 shares of the oil and gas company’s stock, valued at approximately $30,412,000.

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

Chevron Stock Up 0.5%

Shares of CVX opened at $142.31 on Wednesday. The stock has a market capitalization of $250.55 billion, a PE ratio of 14.64, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $147.51 and its 200-day moving average is $151.94.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.93 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.79 EPS 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 $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.81%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Finally, Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron 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.