Elefante Mark B Purchases New Holdings in Chevron Co. (NYSE:CVX)

Elefante Mark B purchased a new stake in Chevron Co. (NYSE:CVX) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 15,748 shares of the oil and gas company’s stock, valued at approximately $2,281,000. Chevron comprises approximately 2.1% of Elefante Mark B’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC increased its holdings in Chevron by 4.3% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock valued at $596,000 after buying an additional 168 shares during the period. CJM Wealth Advisers Ltd. increased its stake in Chevron by 5.1% in the fourth quarter. CJM Wealth Advisers Ltd. now owns 2,901 shares of the oil and gas company’s stock valued at $420,000 after acquiring an additional 140 shares during the period. First International Bank & Trust raised its position in Chevron by 50.9% in the fourth quarter. First International Bank & Trust now owns 3,162 shares of the oil and gas company’s stock worth $458,000 after purchasing an additional 1,066 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Chevron by 17.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,038,871 shares of the oil and gas company’s stock valued at $152,995,000 after purchasing an additional 157,272 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in shares of Chevron by 49.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 20,607 shares of the oil and gas company’s stock valued at $2,985,000 after purchasing an additional 6,822 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

Shares of CVX stock opened at $137.21 on Friday. The firm’s fifty day moving average price is $148.18 and its two-hundred day moving average price is $152.14. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization of $241.57 billion, a P/E ratio of 14.12, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 earnings per share. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Ratings Changes

Several research firms recently commented on CVX. BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research report on Tuesday. Finally, Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $161.25.

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.