Hill Island Financial LLC Buys 275 Shares of Chevron Co. (NYSE:CVX)

Hill Island Financial LLC raised its stake in Chevron Co. (NYSE:CVX) by 21.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,528 shares of the oil and gas company’s stock after acquiring an additional 275 shares during the quarter. Hill Island Financial LLC’s holdings in Chevron were worth $228,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in shares of 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 acquiring an additional 24,467,521 shares in the last quarter. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter worth approximately $3,058,235,000. Imprint Wealth LLC boosted its position in Chevron by 15,457.0% in the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after buying an additional 5,343,782 shares in the last quarter. Morgan Stanley boosted its position in Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position 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 in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Piper Sandler reduced their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Finally, Mizuho increased their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Stock Performance

Shares of Chevron stock traded up $1.75 during midday trading on Thursday, hitting $158.10. The company had a trading volume of 4,536,482 shares, compared to its average volume of 8,712,957. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.88. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $293.63 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.38 and a beta of 1.12. The company has a fifty day simple moving average of $151.34 and a 200 day simple moving average of $152.65.

Chevron (NYSE:CVX) last issued 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. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter last year, the company earned $4.09 EPS. The business’s revenue was down 16.5% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.12%. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

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.