ESL Trust Services LLC Acquires New Shares in Chevron Co. (NYSE:CVX)

ESL Trust Services LLC acquired a new position in Chevron Co. (NYSE:CVXFree Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,232 shares of the oil and gas company’s stock, valued at approximately $208,000. Chevron accounts for approximately 0.1% of ESL Trust Services LLC’s portfolio, making the stock its 21st largest holding.

Other institutional investors have 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 valued at $4,395,858,000 after acquiring an additional 24,467,521 shares during the last quarter. Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth $3,058,235,000. Imprint Wealth LLC increased its holdings in shares of Chevron by 15,457.0% in 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 buying an additional 5,343,782 shares during the last quarter. Morgan Stanley increased its holdings in shares of Chevron by 12.7% in the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Chevron by 570.0% during the 4th 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. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price for the company. in a research note on Tuesday, January 16th. Sanford C. Bernstein raised shares of Chevron from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $184.00 to $182.00 in a research note on Thursday, November 2nd. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $190.00 to $200.00 in a research report on Monday, October 30th. Finally, Mizuho reduced their target price on shares of Chevron from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, November 14th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $180.95.

Check Out Our Latest Report on Chevron

Chevron Stock Up 0.9 %

NYSE CVX traded up $1.34 on Monday, hitting $152.38. The stock had a trading volume of 2,434,016 shares, compared to its average volume of 8,940,308. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $173.51. The business’s fifty day moving average price is $147.87 and its 200 day moving average price is $154.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.97. The stock has a market cap of $287.66 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 0.81 and a beta of 1.13.

Chevron (NYSE:CVXGet Free Report) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.09 EPS. Equities research analysts anticipate that Chevron Co. will post 13.03 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.28%. The ex-dividend date is Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is presently 53.17%.

About Chevron

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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