Ensign Peak Advisors Inc Acquires 74,924 Shares of Chevron Co. (NYSE:CVX)

Ensign Peak Advisors Inc increased its holdings in shares of Chevron Co. (NYSE:CVX) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,006,836 shares of the oil and gas company’s stock after buying an additional 74,924 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Chevron were worth $290,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the 4th quarter worth about $29,000. Fairway Wealth LLC boosted its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. Navigoe LLC purchased a new position in Chevron during the 4th quarter valued at about $33,000. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

CVX stock opened at $137.21 on Friday. The stock has a market capitalization of $241.57 billion, a P/E ratio of 14.12, a P/E/G 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 1-year low of $132.04 and a 1-year high of $168.96. The business has a fifty day moving average price of $148.18 and a 200-day moving average price of $152.14.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.93 earnings per share. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.99%. Chevron’s payout ratio is 78.17%.

Wall Street Analyst Weigh In

Several research analysts have commented on CVX shares. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Tuesday. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Finally, Redburn Atlantic reissued a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $161.25.

Chevron 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.