Chevron Co. (NYSE:CVX) Position Reduced by Black Swift Group LLC

Black Swift Group LLC reduced its position in shares of Chevron Co. (NYSE:CVXFree Report) by 42.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,695 shares of the oil and gas company’s stock after selling 3,500 shares during the period. Black Swift Group LLC’s holdings in Chevron were worth $700,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CVX. Picton Mahoney Asset Management acquired a new stake in Chevron during the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Chevron during the 3rd quarter valued at $35,000. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter worth $33,000. Finally, Worth Asset Management LLC acquired a new position in shares of Chevron in the 1st quarter worth $36,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Royal Bank of Canada lifted their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Monday, January 8th. Finally, TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.39.

Read Our Latest Analysis on CVX

Chevron Stock Performance

CVX opened at $159.82 on Wednesday. The stock has a 50-day moving average of $152.56 and a 200-day moving average of $152.41. 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 Co. has a 52-week low of $139.62 and a 52-week high of $172.88. The company has a market cap of $296.83 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.09 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 13.13 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. Chevron’s payout ratio is presently 57.39%.

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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