Bell Bank Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Bell Bank lifted its position in shares of Chevron Co. (NYSE:CVXFree Report) by 4.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,239 shares of the oil and gas company’s stock after purchasing an additional 239 shares during the period. Bell Bank’s holdings in Chevron were worth $781,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CVX. Moneta Group Investment Advisors LLC lifted its position in shares of Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares during the last quarter. Norges Bank purchased a new stake in shares of Chevron during the 4th quarter worth $3,058,235,000. Imprint Wealth LLC lifted its position in Chevron by 15,457.0% in the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after acquiring an additional 5,343,782 shares during the last quarter. Morgan Stanley lifted its position in Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after acquiring an additional 3,711,923 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in Chevron by 570.0% in the fourth quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock valued at $504,913,000 after acquiring an additional 2,393,200 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research report on Tuesday, January 16th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday. Piper Sandler reduced their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Finally, Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $180.39.

Get Our Latest Report on CVX

Chevron Trading Up 0.5 %

Shares of Chevron stock opened at $159.82 on Wednesday. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.88. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $152.56 and its 200-day simple moving average is $152.41. The firm has a market cap of $296.83 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12.

Chevron (NYSE:CVXGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the business posted $4.09 earnings per share. The business’s revenue was down 16.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 13.13 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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