Coerente Capital Management Has $3.06 Million Stake in Chevron Co. (NYSE:CVX)

Coerente Capital Management boosted its stake in Chevron Co. (NYSE:CVXFree Report) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,540 shares of the oil and gas company’s stock after purchasing an additional 565 shares during the period. Chevron comprises approximately 0.6% of Coerente Capital Management’s investment portfolio, making the stock its 24th biggest position. Coerente Capital Management’s holdings in Chevron were worth $3,064,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Chicago Capital LLC increased its holdings in Chevron by 4.8% in the fourth quarter. Chicago Capital LLC now owns 9,944 shares of the oil and gas company’s stock valued at $1,483,000 after purchasing an additional 459 shares during the period. Covenant Asset Management LLC grew its holdings in Chevron by 2.6% during the 4th quarter. Covenant Asset Management LLC now owns 10,350 shares of the oil and gas company’s stock worth $1,544,000 after acquiring an additional 267 shares during the period. Secure Asset Management LLC grew its holdings in Chevron by 0.8% during the 4th quarter. Secure Asset Management LLC now owns 12,545 shares of the oil and gas company’s stock worth $1,871,000 after acquiring an additional 102 shares during the period. Montz Harcus Wealth Management LLC grew its holdings in Chevron by 5.7% during the 4th quarter. Montz Harcus Wealth Management LLC now owns 2,427 shares of the oil and gas company’s stock worth $362,000 after acquiring an additional 131 shares during the period. Finally, Deltec Asset Management LLC acquired a new stake in Chevron during the 4th quarter worth about $1,139,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.8 %

CVX opened at $159.03 on Tuesday. The company has a fifty day moving average price of $152.23 and a 200-day moving average price of $152.47. The firm has a market capitalization of $295.36 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a one year low of $139.62 and a one year high of $172.88.

Chevron (NYSE:CVXGet Free Report) last released its quarterly 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. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the business earned $4.09 EPS. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.10%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 57.39%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Scotiabank downgraded 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. Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday. Finally, UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $180.39.

Get Our Latest Stock Analysis on CVX

Chevron 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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