Great Lakes Retirement Inc. Has $1.25 Million Stock Position in Chevron Co. (NYSE:CVX)

Great Lakes Retirement Inc. boosted its position 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 institutional investor owned 8,358 shares of the oil and gas company’s stock after purchasing an additional 84 shares during the period. Great Lakes Retirement Inc.’s holdings in Chevron were worth $1,247,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC increased its holdings in Chevron by 104,997.3% in 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 purchasing an additional 24,467,521 shares in the last quarter. Norges Bank acquired a new position in Chevron during the 4th quarter valued at about $3,058,235,000. Imprint Wealth LLC boosted its holdings in Chevron by 15,457.0% during 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 acquiring an additional 5,343,782 shares during the last quarter. Morgan Stanley increased its position in shares of Chevron by 12.7% during the fourth 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 last quarter. Finally, Lazard Asset Management LLC raised its position in Chevron by 570.0% in the fourth quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock worth $504,913,000 after acquiring an additional 2,393,200 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada raised their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $180.39.

Chevron Stock Performance

NYSE:CVX traded up $1.76 during trading hours on Thursday, reaching $158.11. The company had a trading volume of 4,733,094 shares, compared to its average volume of 8,712,957. 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 Co. has a 52 week low of $139.62 and a 52 week high of $172.88. The firm has a market cap of $293.65 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.38 and a beta of 1.12. The firm’s 50 day moving average price is $151.34 and its 200-day moving average price is $152.65.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.09 earnings per share. On average, analysts forecast 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. Stockholders of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.

Chevron 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.