JustInvest LLC Boosts Stake in Chevron Co. (NYSE:CVX)

JustInvest LLC lifted its position in Chevron Co. (NYSE:CVX) by 65.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,213 shares of the oil and gas company’s stock after buying an additional 6,385 shares during the quarter. JustInvest LLC’s holdings in Chevron were worth $1,699,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CVX. Intersect Capital LLC grew its stake in Chevron by 4.8% during the 1st quarter. Intersect Capital LLC now owns 21,451 shares of the oil and gas company’s stock worth $2,248,000 after purchasing an additional 989 shares in the last quarter. Proquility Private Wealth Partners LLC acquired a new position in shares of Chevron during the 4th quarter worth about $524,000. Onyx Bridge Wealth Group LLC acquired a new position in shares of Chevron during the 4th quarter worth about $793,000. Nisa Investment Advisors LLC boosted its position in shares of Chevron by 2.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 619,242 shares of the oil and gas company’s stock worth $64,890,000 after acquiring an additional 11,916 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Chevron by 1.8% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,833,303 shares of the oil and gas company’s stock valued at $154,822,000 after purchasing an additional 32,797 shares during the last quarter. Hedge funds and other institutional investors own 62.27% of the company’s stock.

CVX has been the subject of several research reports. Morgan Stanley boosted their target price on Chevron from $113.00 to $127.00 and gave the company an “overweight” rating in a report on Wednesday, March 17th. Zacks Investment Research raised Chevron from a “hold” rating to a “strong-buy” rating and set a $102.00 target price for the company in a report on Friday, January 29th. Scotiabank reaffirmed a “sector perform” rating and set a $115.00 price objective on shares of Chevron in a research note on Tuesday, March 16th. Piper Sandler upped their price objective on Chevron from $113.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, April 1st. Finally, Truist upped their price objective on Chevron from $105.00 to $130.00 in a research note on Wednesday, March 10th. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Chevron currently has an average rating of “Buy” and a consensus price target of $110.68.

Shares of CVX traded down $0.04 during trading hours on Tuesday, hitting $105.49. The stock had a trading volume of 289,548 shares, compared to its average volume of 10,701,234. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 1.26. The firm has a market cap of $203.39 billion, a P/E ratio of -17.27, a P/E/G ratio of 5.74 and a beta of 1.33. The company’s fifty day simple moving average is $104.24 and its 200 day simple moving average is $92.40. Chevron Co. has a 12-month low of $65.16 and a 12-month high of $112.70.

Chevron (NYSE:CVX) last released its quarterly earnings data on Thursday, April 29th. The oil and gas company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $32.03 billion during the quarter, compared to analysts’ expectations of $31.82 billion. Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the business earned $1.29 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 0.03 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Wednesday, May 19th will be paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 5.08%. This is an increase from Chevron’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Tuesday, May 18th. Chevron’s dividend payout ratio (DPR) is 82.30%.

About Chevron

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.

See Also: Systematic Risk

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.