Blue Trust Inc. Purchases 2,549 Shares of Chevron Co. (NYSE:CVX)

Blue Trust Inc. lifted its stake in shares of Chevron Co. (NYSE:CVX) by 9.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 29,475 shares of the oil and gas company’s stock after acquiring an additional 2,549 shares during the period. Blue Trust Inc.’s holdings in Chevron were worth $4,396,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after purchasing an additional 458,080 shares during the period. Morgan Stanley raised its position in Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares during the period. Moneta Group Investment Advisors LLC raised its position in Chevron by 104,997.3% in 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. Charles Schwab Investment Management Inc. raised its position in Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after purchasing an additional 368,898 shares during the period. Finally, Northern Trust Corp raised its position in Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after purchasing an additional 569,850 shares during the period. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVX. Mizuho boosted their price objective 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. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Monday, January 8th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Finally, Piper Sandler decreased their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research 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. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $180.39.

Chevron Stock Up 0.9 %

NYSE:CVX traded up $1.39 during mid-day trading on Friday, hitting $157.74. 8,331,627 shares of the company’s stock were exchanged, compared to its average volume of 8,810,399. The business has a fifty day moving average price of $151.60 and a 200 day moving average price of $152.67. The company has a market cap of $292.97 billion, a PE ratio of 13.89, a P/E/G ratio of 2.40 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $172.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.09 earnings per share. Equities analysts predict that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. 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. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio 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.