Mork Capital Management LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Mork Capital Management LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,970 shares of the oil and gas company’s stock after acquiring an additional 300 shares during the quarter. Mork Capital Management LLC’s holdings in Chevron were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CVX. Regent Peak Wealth Advisors LLC boosted its holdings in Chevron by 4.3% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock worth $596,000 after acquiring an additional 168 shares during the last quarter. Czech National Bank raised its stake in shares of Chevron by 4.6% during the 4th quarter. Czech National Bank now owns 362,358 shares of the oil and gas company’s stock worth $52,484,000 after purchasing an additional 15,868 shares during the period. Aprio Wealth Management LLC raised its stake in shares of Chevron by 10.9% during the 4th quarter. Aprio Wealth Management LLC now owns 5,047 shares of the oil and gas company’s stock worth $731,000 after purchasing an additional 495 shares during the period. Matrix Trust Co raised its stake in shares of Chevron by 3.0% during the 4th quarter. Matrix Trust Co now owns 8,453 shares of the oil and gas company’s stock worth $1,224,000 after purchasing an additional 248 shares during the period. Finally, Clark & Stuart Inc bought a new stake in shares of Chevron during the 4th quarter worth $2,234,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 2.2%

Shares of NYSE CVX opened at $141.50 on Tuesday. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm 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. The business has a 50-day moving average of $147.72 and a 200-day moving average of $152.01.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CVX shares. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company 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.