ProShare Advisors LLC Buys 168,788 Shares of Chevron Co. (NYSE:CVX)

ProShare Advisors LLC increased its position in Chevron Co. (NYSE:CVX) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,699,478 shares of the oil and gas company’s stock after buying an additional 168,788 shares during the quarter. Chevron accounts for approximately 0.6% of ProShare Advisors LLC’s investment portfolio, making the stock its 29th largest position. ProShare Advisors LLC owned approximately 0.09% of Chevron worth $246,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Chevron by 1.1% in 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 period. Charles Schwab Investment Management Inc. increased its stake 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 buying an additional 746,806 shares during the period. Norges Bank acquired a new position in shares of Chevron in the fourth quarter valued at approximately $3,017,750,000. Northern Trust Corp increased its stake in shares of Chevron by 7.3% in the fourth 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 buying an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after buying an additional 410,460 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $141.22 on Thursday. The company has a fifty day moving average of $147.20 and a 200-day moving average of $151.87. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. 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 firm has a market capitalization of $246.63 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.46 and a beta of 0.83.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVX. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, Redburn Atlantic reissued a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $160.24.

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.