Lighthouse Investment Partners LLC Takes Position in Chevron Co. (NYSE:CVX)

Lighthouse Investment Partners LLC purchased a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 53,444 shares of the oil and gas company’s stock, valued at approximately $7,741,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Life Planning Partners Inc bought a new stake in shares of Chevron in the fourth quarter valued at about $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the fourth quarter valued at about $29,000. Fairway Wealth LLC lifted its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the period. Finally, Navigoe LLC bought a new stake in shares of Chevron in the fourth quarter valued at about $33,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of Chevron stock opened at $141.50 on Tuesday. The firm has a fifty day moving average of $147.72 and a two-hundred day moving average of $152.01. The stock has a market capitalization of $249.12 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 EPS. As a group, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company cut their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron 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.