William B. Walkup & Associates Inc. Has $744,000 Holdings in Chevron Co. (NYSE:CVX)

William B. Walkup & Associates Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,135 shares of the oil and gas company’s stock after buying an additional 108 shares during the quarter. William B. Walkup & Associates Inc.’s holdings in Chevron were worth $744,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CVX. Geode Capital Management LLC raised its stake in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after acquiring an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after purchasing an additional 746,806 shares during the last quarter. Norges Bank acquired a new position in Chevron during the fourth quarter valued at approximately $3,017,750,000. Northern Trust Corp raised its position in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after buying an additional 410,460 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Scotiabank lowered shares of 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. Piper Sandler decreased their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. BNP Paribas lowered Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Performance

CVX opened at $138.52 on Tuesday. The stock’s 50 day simple moving average is $146.37 and its 200-day simple moving average is $151.71. 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 stock has a market cap of $241.91 billion, a PE ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping 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 the consensus estimate of $49.05 billion. During the same quarter in the previous year, the company earned $2.93 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. Sell-side analysts forecast 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. Investors of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.94%. Chevron’s payout ratio is currently 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.