Metis Global Partners LLC Buys 13,258 Shares of Chevron Co. (NYSE:CVX)

Metis Global Partners LLC lifted its position in Chevron Co. (NYSE:CVX) by 17.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 88,305 shares of the oil and gas company’s stock after acquiring an additional 13,258 shares during the quarter. Metis Global Partners LLC’s holdings in Chevron were worth $13,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Valley Brook Capital Group Inc. lifted its position in shares of Chevron by 2.2% during the 4th quarter. Valley Brook Capital Group Inc. now owns 7,000 shares of the oil and gas company’s stock worth $1,044,000 after buying an additional 150 shares in the last quarter. Channing Capital Management LLC lifted its holdings in Chevron by 26.7% during the fourth quarter. Channing Capital Management LLC now owns 60,263 shares of the oil and gas company’s stock worth $8,989,000 after acquiring an additional 12,685 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in Chevron by 9.4% during the fourth quarter. TCI Wealth Advisors Inc. now owns 31,794 shares of the oil and gas company’s stock worth $4,742,000 after acquiring an additional 2,736 shares during the period. W.H. Cornerstone Investments Inc. boosted its position in Chevron by 96.7% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,383 shares of the oil and gas company’s stock worth $654,000 after purchasing an additional 2,155 shares during the last quarter. Finally, River Global Investors LLP purchased a new stake in shares of Chevron during the 4th quarter valued at $4,474,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. HSBC boosted their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Truist Financial decreased their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Wells Fargo & Company raised their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Price Performance

Shares of CVX stock traded down $0.48 during trading hours on Friday, reaching $160.25. The stock had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. The firm has a market capitalization of $297.63 billion, a PE ratio of 14.74, a PEG ratio of 2.37 and a beta of 1.11. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The stock’s fifty day simple moving average is $157.26 and its 200 day simple moving average is $151.53. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.55 EPS. On average, equities research analysts predict that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.07%. Chevron’s dividend payout ratio is presently 59.98%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Company 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.