Whelan Financial Purchases 83 Shares of Chevron Co. (NYSE:CVX)

Whelan Financial increased its holdings in Chevron Co. (NYSE:CVX) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,117 shares of the oil and gas company’s stock after acquiring an additional 83 shares during the quarter. Whelan Financial’s holdings in Chevron were worth $452,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVX. Norges Bank bought a new position in shares of Chevron in the 4th quarter worth $3,017,750,000. Raymond James Financial Inc. bought a new stake in Chevron during the fourth quarter valued at about $1,036,302,000. Bank of New York Mellon Corp grew its stake in Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares during the last quarter. Amundi raised its holdings in Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares in the last quarter. Finally, Capital World Investors raised its holdings in Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CVX shares. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Mizuho decreased their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Finally, BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Price Performance

Shares of NYSE:CVX opened at $138.52 on Tuesday. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $241.91 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company’s 50 day moving average is $146.37 and its 200 day moving average is $151.71.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for 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 quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.93 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

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.