Traynor Capital Management Inc. Purchases 1,170 Shares of Chevron Co. (NYSE:CVX)

Traynor Capital Management Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 9.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,778 shares of the oil and gas company’s stock after purchasing an additional 1,170 shares during the period. Traynor Capital Management Inc.’s holdings in Chevron were worth $2,055,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after acquiring an additional 458,080 shares during the last quarter. Morgan Stanley raised its stake in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after acquiring an additional 2,244,995 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Chevron by 104,997.3% in the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 1.5% in the third 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 acquiring an additional 368,898 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Chevron by 2.6% in the third quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after acquiring an additional 569,850 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CVX. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research report on Tuesday, January 16th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Monday, January 8th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada lifted their price target on shares of 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 lowered their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $180.39.

Chevron Stock Up 0.9 %

Shares of CVX stock traded up $1.39 during trading on Friday, reaching $157.74. The company’s stock had a trading volume of 8,331,627 shares, 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 quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a market cap of $292.97 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth 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.

Chevron (NYSE:CVX) last announced 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 analyst estimates of $50.93 billion. During the same quarter in the previous year, the firm posted $4.09 earnings per share. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.13%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend 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.