Nilsine Partners LLC Raises Holdings in Chevron Co. (NYSE:CVX)

Nilsine Partners LLC boosted its position in Chevron Co. (NYSE:CVX) by 44.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,029 shares of the oil and gas company’s stock after purchasing an additional 5,546 shares during the quarter. Nilsine Partners LLC’s holdings in Chevron were worth $2,611,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Rational Advisors LLC acquired a new stake in Chevron in the third quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron during the third quarter valued at $31,000. Finally, Krane Funds Advisors LLC purchased a new stake in Chevron during the 3rd quarter valued at about $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. Raymond James raised their price target on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. UBS Group boosted their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Finally, Wells Fargo & Company increased their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Down 0.6 %

Shares of NYSE:CVX opened at $156.24 on Wednesday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $153.74 and a two-hundred day moving average of $151.12. The stock has a market cap of $280.78 billion, a P/E ratio of 17.17, a PEG ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the business earned $3.05 earnings per share. Chevron’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

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.