Consolidated Investment Group LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Consolidated Investment Group LLC increased its stake in Chevron Co. (NYSE:CVX) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,600 shares of the oil and gas company’s stock after acquiring an additional 1,800 shares during the period. Consolidated Investment Group LLC’s holdings in Chevron were worth $2,775,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Picton Mahoney Asset Management bought a new position in shares of Chevron in the third quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the last quarter. DHJJ Financial Advisors Ltd. purchased a new position in shares of Chevron in the third quarter valued at about $35,000. Valued Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at about $33,000. Finally, Worth Asset Management LLC bought a new stake in shares of Chevron in the first quarter worth about $36,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CVX shares. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Royal Bank of Canada raised their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Piper Sandler reduced their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Finally, Mizuho lifted their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.39.

Chevron Stock Up 0.9 %

Shares of NYSE:CVX opened at $157.74 on Friday. 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 business’s 50 day moving average is $151.60 and its 200 day moving average is $152.67. The stock has a market cap of $292.97 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.88.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.09 EPS. Sell-side analysts predict that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s payout ratio is currently 57.39%.

Chevron Profile

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.