Emfo LLC Has $1.84 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Emfo LLC boosted its stake in Chevron Co. (NYSE:CVX) by 19.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,304 shares of the oil and gas company’s stock after acquiring an additional 2,000 shares during the quarter. Chevron accounts for 1.7% of Emfo LLC’s portfolio, making the stock its 12th largest position. Emfo LLC’s holdings in Chevron were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC increased its position in Chevron by 104,997.3% during 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 buying an additional 24,467,521 shares during the last quarter. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter worth about $3,058,235,000. Imprint Wealth LLC grew its stake in 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 valued at $537,835,000 after buying an additional 5,343,782 shares during the last quarter. Morgan Stanley raised its holdings in Chevron by 12.7% in the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after acquiring an additional 3,711,923 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after purchasing an additional 3,181,946 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group upgraded 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 Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Piper Sandler reduced their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.55.

Chevron Price Performance

Shares of NYSE CVX traded down $1.68 during midday trading on Tuesday, reaching $155.91. 973,230 shares of the stock traded hands, compared to its average volume of 8,536,177. The company’s 50 day moving average is $155.03 and its 200 day moving average is $151.92. Chevron Co. has a one year low of $139.62 and a one year high of $172.54. The stock has a market capitalization of $289.57 billion, a PE ratio of 13.87, a P/E/G ratio of 2.40 and a beta of 1.12. 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 released its quarterly earnings data 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. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the business earned $4.09 earnings per share. Chevron’s quarterly revenue was down 16.5% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 13.24 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.18%. 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 (DPR) is currently 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.