Everett Harris & Co. CA Grows Holdings in Chevron Co. (NYSE:CVX)

Everett Harris & Co. CA grew its position in shares of Chevron Co. (NYSE:CVX) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 581,069 shares of the oil and gas company’s stock after purchasing an additional 30,212 shares during the period. Chevron accounts for about 1.2% of Everett Harris & Co. CA’s investment portfolio, making the stock its 20th largest position. Everett Harris & Co. CA’s holdings in Chevron were worth $86,672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Moneta Group Investment Advisors LLC increased its stake in Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after acquiring an additional 24,467,521 shares during the last quarter. Norges Bank purchased a new position in shares of Chevron in the 4th quarter valued at $3,058,235,000. Imprint Wealth LLC lifted its holdings in shares of Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after acquiring an additional 5,343,782 shares in the last quarter. Morgan Stanley boosted its position in Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in Chevron by 570.0% in the 4th quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock valued at $504,913,000 after purchasing an additional 2,393,200 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.9 %

Shares of CVX stock traded up $1.39 during trading on Thursday, hitting $157.74. 8,232,104 shares of the company were exchanged, compared to its average volume of 8,778,653. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a market capitalization of $292.97 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.38 and a beta of 1.12. The business’s 50-day simple moving average is $151.60 and its 200 day simple moving average is $152.67.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the previous year, the business posted $4.09 EPS. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. UBS Group cut 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 Thursday, December 14th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Royal Bank of Canada increased their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Mizuho boosted their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $180.39.

Chevron Company 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.