FNY Investment Advisers LLC bought a new stake in shares of Chevron Co. (NYSE:CVX – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,000 shares of the oil and gas company’s stock, valued at approximately $163,000.
Several other hedge funds also recently bought and sold shares of the business. Morgan Stanley grew its position in Chevron by 12.7% in the 4th 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. Moneta Group Investment Advisors LLC grew its position in Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after acquiring an additional 24,467,521 shares during the last quarter. Norges Bank purchased a new stake in shares of Chevron in the 4th quarter worth $3,058,235,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock worth $2,393,138,000 after buying an additional 189,762 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Chevron by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 14,164,343 shares of the oil and gas company’s stock worth $2,542,358,000 after buying an additional 354,084 shares during the period. Institutional investors own 69.65% of the company’s stock.
Chevron Trading Down 0.8 %
Chevron stock opened at $151.35 on Friday. The stock has a 50-day moving average of $158.94 and a two-hundred day moving average of $165.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43. Chevron Co. has a one year low of $132.54 and a one year high of $189.68. The stock has a market cap of $286.75 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 0.77 and a beta of 1.17.
Chevron Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio is presently 32.61%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Piper Sandler lowered their target price on Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. UBS Group assumed coverage on Chevron in a report on Wednesday, April 19th. They issued a “buy” rating and a $212.00 target price for the company. StockNews.com assumed coverage on Chevron in a report on Thursday, May 18th. They issued a “hold” rating for the company. JPMorgan Chase & Co. upgraded Chevron from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $161.00 to $170.00 in a report on Wednesday, May 31st. Finally, Wells Fargo & Company decreased their price objective on Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a research note on Thursday, March 2nd. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $191.68.
About Chevron
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.
Further Reading
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