MJP Associates Inc. ADV Grows Stake in Chevron Co. (NYSE:CVX)

MJP Associates Inc. ADV raised its stake in Chevron Co. (NYSE:CVX) by 21.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,952 shares of the oil and gas company’s stock after acquiring an additional 704 shares during the quarter. MJP Associates Inc. ADV’s holdings in Chevron were worth $572,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TFB Advisors LLC raised its holdings in shares of Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after acquiring an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. grew its position in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after purchasing an additional 66 shares during the last quarter. Meridian Financial Partners LLC lifted its stake in shares of Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after buying an additional 67 shares during the period. Finally, Western Pacific Wealth Management LP lifted its stake in Chevron by 14.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 67 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CVX shares. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $161.25.

Chevron Stock Up 1.1%

Shares of CVX opened at $138.52 on Monday. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The firm’s 50 day moving average is $147.91 and its 200-day moving average is $152.07. The stock has a market capitalization of $243.88 billion, a PE ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the firm earned $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. Chevron’s dividend payout ratio is presently 78.17%.

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.