Paradigm Capital Management LLC NV Buys 243 Shares of Chevron Co. (NYSE:CVX)

Paradigm Capital Management LLC NV increased its stake in Chevron Co. (NYSE:CVX) by 1.8% during the fourth quarter, Holdings Channel reports. The firm owned 13,918 shares of the oil and gas company’s stock after acquiring an additional 243 shares during the period. Chevron makes up approximately 1.9% of Paradigm Capital Management LLC NV’s investment portfolio, making the stock its 16th biggest position. Paradigm Capital Management LLC NV’s holdings in Chevron were worth $2,016,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. TFB Advisors LLC increased its position in shares of Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its holdings in Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after purchasing an additional 66 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after purchasing an additional 66 shares in the last quarter. Meridian Financial Partners LLC boosted its stake in shares of Chevron by 0.5% during the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock worth $1,943,000 after acquiring an additional 67 shares in the last quarter. Finally, Western Pacific Wealth Management LP boosted its stake in shares of Chevron by 14.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock worth $75,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.5%

Shares of CVX opened at $142.31 on Wednesday. The company has a market capitalization of $250.55 billion, a P/E ratio of 14.64, a PEG 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. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The business’s 50 day simple moving average is $147.51 and its 200-day simple moving average is $151.94.

Chevron (NYSE:CVX) last announced its earnings results 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. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.93 EPS. As a group, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business 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 annualized dividend and a yield of 4.81%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CVX shares. TD Cowen cut their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Wells Fargo & Company lowered their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Piper Sandler reduced their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $176.00 to $158.00 in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus price target of $160.24.

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.