Waters Parkerson & CO. LLC Buys 6,198 Shares of Chevron Co. (NYSE:CVX)

Waters Parkerson & CO. LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,390 shares of the oil and gas company’s stock after buying an additional 6,198 shares during the quarter. Chevron comprises 2.3% of Waters Parkerson & CO. LLC’s investment portfolio, making the stock its 12th biggest position. Waters Parkerson & CO. LLC’s holdings in Chevron were worth $43,943,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Chevron by 1.1% during the 4th 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 purchasing an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 2.4% during 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 last quarter. Norges Bank purchased a new position in shares of Chevron during the 4th quarter valued at about $3,017,750,000. Northern Trust Corp boosted 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 worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of 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 valued at $2,881,280,000 after purchasing an additional 410,460 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $142.04 on Monday. The stock has a market capitalization of $248.06 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The stock’s fifty day simple moving average is $146.65 and its 200-day simple moving average is $151.81.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 yield of 4.82%. Chevron’s dividend payout ratio (DPR) is 78.17%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. BNP Paribas lowered Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Chevron has an average 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.