IFM Investors Pty Ltd lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 9.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,868 shares of the oil and gas company’s stock after purchasing an additional 9,953 shares during the quarter. Chevron makes up about 1.0% of IFM Investors Pty Ltd’s holdings, making the stock its 19th biggest position. IFM Investors Pty Ltd’s holdings in Chevron were worth $12,061,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. CKW Financial Group lifted its stake in Chevron by 123.5% in the fourth quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 200 shares in the last quarter. Highwater Wealth Management LLC bought a new position in Chevron in the fourth quarter valued at approximately $51,000. Ironwood Financial llc lifted its stake in Chevron by 94.2% in the fourth quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock valued at $59,000 after buying an additional 261 shares in the last quarter. Tributary Capital Management LLC bought a new position in Chevron in the fourth quarter valued at approximately $84,000. Finally, Arlington Partners LLC lifted its stake in Chevron by 237.2% in the fourth quarter. Arlington Partners LLC now owns 853 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 600 shares in the last quarter. Institutional investors own 65.93% of the company’s stock.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Monday, April 29th. Cowen reissued a “buy” rating and issued a $142.00 price objective on shares of Chevron in a research report on Wednesday, April 17th. Morgan Stanley initiated coverage on shares of Chevron in a research report on Monday, April 1st. They issued an “overweight” rating and a $146.00 price objective on the stock. Citigroup boosted their price objective on shares of Chevron from $135.00 to $142.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $136.00 to $122.00 in a research report on Monday, January 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $135.84.
Shares of CVX stock traded up $0.80 on Friday, hitting $121.99. The company’s stock had a trading volume of 8,787,255 shares, compared to its average volume of 12,578,634. The company has a market capitalization of $230.84 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 2.79 and a beta of 1.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.12. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $131.08.
Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.13. The firm had revenue of $35.20 billion during the quarter, compared to analysts’ expectations of $38.42 billion. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 earnings per share. On average, analysts forecast that Chevron Co. will post 7.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a $1.19 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.90%. Chevron’s dividend payout ratio (DPR) is currently 57.70%.
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Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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