Great Lakes Retirement Inc. Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Great Lakes Retirement Inc. boosted its stake in Chevron Co. (NYSE:CVX) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,358 shares of the oil and gas company’s stock after acquiring an additional 84 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Chevron were worth $1,247,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CVX. Vanguard Group Inc. raised its stake in Chevron by 0.3% during 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 period. Morgan Stanley raised its position in shares of Chevron by 7.0% during 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 lifted its holdings in shares of 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 last quarter. Charles Schwab Investment Management Inc. grew its stake in Chevron by 1.5% during 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 buying an additional 368,898 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in 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 valued at $3,828,537,000 after buying an additional 569,850 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. UBS Group decreased their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Mizuho boosted their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target on the stock. in a report on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Stock Up 1.1 %

CVX traded up $1.76 during trading on Thursday, reaching $158.11. 4,733,094 shares of the stock traded hands, compared to its average volume of 8,712,957. 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 Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.88. The stock’s 50-day simple moving average is $151.34 and its two-hundred day simple moving average is $152.65. The stock has a market cap of $293.65 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $4.09 EPS. As a group, equities research analysts expect that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. 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.