Tidal Investments LLC Has $15.41 Million Stake in Chevron Co. (NYSE:CVX)

Tidal Investments LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,394 shares of the oil and gas company’s stock after buying an additional 11,514 shares during the quarter. Tidal Investments LLC’s holdings in Chevron were worth $15,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Allianz SE acquired a new stake in shares of Chevron during the 4th quarter valued at about $9,369,000. Nicholas Company Inc. lifted its holdings in shares of Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after buying an additional 3,280 shares during the last quarter. Applied Finance Capital Management LLC lifted its holdings in Chevron by 1.6% in the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock worth $26,044,000 after purchasing an additional 2,755 shares during the last quarter. Cerity Partners LLC lifted its holdings in Chevron by 4.5% in the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock worth $174,817,000 after purchasing an additional 52,307 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in Chevron by 6.8% in the 4th quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company’s stock worth $17,101,000 after purchasing an additional 7,557 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. TD Cowen reduced their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Finally, DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Trading Down 0.2%

Shares of Chevron stock opened at $142.04 on Monday. The firm has a market capitalization of $248.06 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s fifty day moving average price is $146.65 and its two-hundred day moving average price is $151.81. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 EPS. On average, analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.