Ethic Inc. Has $3.28 Million Position in Chevron Co. (NYSE:CVX)

Ethic Inc. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 69.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,646 shares of the oil and gas company’s stock after buying an additional 9,265 shares during the period. Ethic Inc.’s holdings in Chevron were worth $3,280,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Ensign Peak Advisors Inc raised its position in Chevron by 3.9% during the 4th quarter. Ensign Peak Advisors Inc now owns 2,006,836 shares of the oil and gas company’s stock worth $290,670,000 after purchasing an additional 74,924 shares during the last quarter. First Manhattan CO. LLC. boosted its holdings in Chevron by 7.9% in the fourth quarter. First Manhattan CO. LLC. now owns 42,442 shares of the oil and gas company’s stock valued at $6,440,000 after acquiring an additional 3,091 shares during the last quarter. Fred Alger Management LLC increased its position in Chevron by 2.0% during the 4th quarter. Fred Alger Management LLC now owns 66,607 shares of the oil and gas company’s stock valued at $9,647,000 after purchasing an additional 1,281 shares during the period. Fullcircle Wealth LLC raised its holdings in Chevron by 3.7% during the 4th quarter. Fullcircle Wealth LLC now owns 11,237 shares of the oil and gas company’s stock worth $1,752,000 after purchasing an additional 396 shares during the last quarter. Finally, Citizens Business Bank lifted its position in shares of Chevron by 1.2% in the 4th quarter. Citizens Business Bank now owns 30,396 shares of the oil and gas company’s stock worth $4,583,000 after purchasing an additional 356 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $138.52 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $243.88 billion, a PE ratio of 14.25, a PEG ratio of 1.46 and a beta of 0.83. The stock’s 50 day moving average price is $147.91 and its 200-day moving average price is $152.06. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. Chevron’s payout ratio is 78.17%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Wells Fargo & Company reduced their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. UBS Group dropped their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $161.25.

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.