Chevron Co. (NYSE:CVX) Holdings Lifted by NCM Capital Management LLC

NCM Capital Management LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 14.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,250 shares of the oil and gas company’s stock after buying an additional 779 shares during the period. NCM Capital Management LLC’s holdings in Chevron were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CVX. Allianz SE acquired a new stake in shares of Chevron during the fourth quarter worth approximately $9,369,000. Nicholas Company Inc. lifted its position in Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after buying an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC boosted its stake in shares of Chevron by 1.6% during the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock valued at $26,044,000 after buying an additional 2,755 shares during the period. Cerity Partners LLC grew its holdings in shares of Chevron by 4.5% during the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock valued at $174,817,000 after acquiring an additional 52,307 shares in the last quarter. Finally, Wedbush Securities Inc. increased its stake in shares of Chevron by 6.8% in the fourth quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company’s stock worth $17,101,000 after acquiring an additional 7,557 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. BNP Paribas downgraded Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $160.24.

Chevron Stock Down 0.9%

Shares of CVX stock opened at $137.21 on Wednesday. The stock has a 50 day moving average of $146.04 and a 200-day moving average of $151.61. The firm has a market cap of $239.62 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The company 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% on a year-over-year basis. During the same period last year, the business posted $2.93 EPS. On average, equities analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

About Chevron

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.