DeDora Capital Inc. Acquires 643 Shares of Chevron Co. (NYSE:CVX)

DeDora Capital Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 4.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 15,145 shares of the oil and gas company’s stock after purchasing an additional 643 shares during the period. DeDora Capital Inc.’s holdings in Chevron were worth $2,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron in the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV grew its stake in shares of Chevron by 80.0% in the third 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. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Chevron in the third quarter worth $35,000. Finally, Worth Asset Management LLC purchased a new stake in shares of Chevron in the first quarter worth $36,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CVX. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Piper Sandler lowered their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Mizuho upped their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.39.

Chevron Price Performance

NYSE CVX traded up $1.39 during trading on Friday, hitting $157.74. 8,331,627 shares of the stock traded hands, compared to its average volume of 8,810,399. The company has a market capitalization 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. The firm has a 50-day simple moving average of $151.60 and a 200-day simple moving average of $152.67. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.88.

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

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date 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 dividend payout ratio is 57.39%.

About Chevron

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.