TTP Investments Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,250 shares of the oil and gas company’s stock after buying an additional 62 shares during the quarter. Chevron makes up approximately 3.6% of TTP Investments Inc.’s investment portfolio, making the stock its 7th largest position. TTP Investments Inc.’s holdings in Chevron were worth $3,455,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Worth Asset Management LLC acquired a new stake in Chevron in the 1st quarter worth about $36,000. JDM Financial Group LLC acquired a new stake in shares of Chevron in the fourth quarter worth approximately $42,000. Global Wealth Strategies & Associates purchased a new stake in shares of Chevron during the fourth quarter worth approximately $46,000. Orion Capital Management LLC raised its stake in Chevron by 32.9% in the 4th quarter. Orion Capital Management LLC now owns 295 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 73 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in Chevron by 127.3% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on CVX shares. Truist Financial upped their target price on shares of Chevron from $169.00 to $179.00 and gave the stock a “hold” rating in a report on Tuesday, January 31st. Cowen cut their price objective on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, February 24th. Mizuho restated a “neutral” rating and set a $206.00 target price on shares of Chevron in a report on Friday, March 17th. Wells Fargo & Company dropped their price target on Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. Finally, Morgan Stanley reduced their price objective on Chevron from $195.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, March 27th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $189.76.
Insider Transactions at Chevron
Chevron Stock Down 1.3 %
Shares of NYSE:CVX opened at $167.65 on Friday. The company has a market capitalization of $319.65 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 0.81 and a beta of 1.16. Chevron Co. has a 12-month low of $132.54 and a 12-month high of $189.68. The business has a 50-day moving average price of $163.94 and a 200 day moving average price of $169.83. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13.
Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company had revenue of $56.47 billion for the quarter, compared to analyst estimates of $53.97 billion. During the same quarter in the prior year, the business earned $2.56 earnings per share. Chevron’s revenue was up 17.1% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 14.56 EPS for the current year.
Chevron Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 3.60%. This is a boost from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. Chevron’s dividend payout ratio is 33.04%.
Chevron announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 25th that allows the company to buyback $75.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 21.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
Chevron Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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