Chevron Co. (NYSE:CVX) Shares Sold by MJP Associates Inc. ADV

MJP Associates Inc. ADV lessened its position in Chevron Co. (NYSE:CVX) by 13.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,988 shares of the oil and gas company’s stock after selling 469 shares during the quarter. MJP Associates Inc. ADV’s holdings in Chevron were worth $446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its holdings in Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares during the period. Norges Bank acquired a new stake in shares of Chevron in the 4th quarter valued at $3,058,235,000. Imprint Wealth LLC lifted its position in shares of Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after purchasing an additional 5,343,782 shares during the last quarter. Morgan Stanley grew its stake in shares of Chevron by 12.7% during the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Chevron by 570.0% in the fourth quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock valued at $504,913,000 after buying an additional 2,393,200 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada lifted their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Piper Sandler decreased their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.39.

Chevron Price Performance

CVX stock traded up $1.39 during trading hours on Thursday, hitting $157.74. 8,230,553 shares of the stock traded hands, compared to its average volume of 8,731,655. Chevron Co. has a one year low of $139.62 and a one year high of $172.88. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $151.60 and a 200 day simple moving average of $152.67. The company has a market cap of $292.97 billion, a P/E ratio of 13.90, a P/E/G ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period last year, the firm posted $4.09 earnings per share. Equities analysts forecast that Chevron Co. will post 13.04 earnings per share for the current 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 issued a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

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.