West Branch Capital LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

West Branch Capital LLC raised its holdings in Chevron Co. (NYSE:CVXFree Report) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,246 shares of the oil and gas company’s stock after purchasing an additional 497 shares during the quarter. West Branch Capital LLC’s holdings in Chevron were worth $783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Windsor Advisory Group LLC raised its position in Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after acquiring an additional 720 shares in the last quarter. Dechtman Wealth Management LLC purchased a new position in shares of Chevron during the 2nd quarter valued at approximately $648,000. Renaissance Investment Group LLC lifted its stake in shares of Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the period. Altrius Capital Management Inc boosted its holdings in Chevron by 2.1% during the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after buying an additional 434 shares in the last quarter. Finally, Tsfg LLC grew its position in Chevron by 5.3% during the third quarter. Tsfg LLC now owns 3,473 shares of the oil and gas company’s stock valued at $586,000 after buying an additional 176 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.9 %

Shares of Chevron stock opened at $157.74 on Friday. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.88. The stock has a 50 day moving average of $152.23 and a 200 day moving average of $152.67. The firm has a market capitalization of $292.97 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVXGet Free Report) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.09 earnings per share. As a group, research analysts predict that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on CVX shares. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a report on Tuesday, January 16th. Piper Sandler dropped their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $180.39.

Get Our Latest Stock Analysis on Chevron

Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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