Michels Family Financial LLC Takes $1.58 Million Position in Chevron Co. (NYSE:CVX)

Michels Family Financial LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,908 shares of the oil and gas company’s stock, valued at approximately $1,580,000. Chevron makes up 1.4% of Michels Family Financial LLC’s investment portfolio, making the stock its 15th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after purchasing an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after purchasing an additional 746,806 shares during the last quarter. Norges Bank acquired a new stake in Chevron in the fourth quarter valued at $3,017,750,000. Northern Trust Corp boosted its position in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after acquiring an additional 410,460 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVX. Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Wells Fargo & Company decreased their price target 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, DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

NYSE CVX opened at $136.66 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $144.66 and its two-hundred day moving average is $151.25. The stock has a market capitalization of $238.66 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.01%. Chevron’s payout ratio is 78.17%.

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.