GUNN & Co INVESTMENT MANAGEMENT INC. Has $2.33 Million Holdings in Chevron Co. (NYSE:CVX)

GUNN & Co INVESTMENT MANAGEMENT INC. boosted its position in shares of Chevron Co. (NYSE:CVX) by 796.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,599 shares of the oil and gas company’s stock after purchasing an additional 13,859 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Chevron were worth $2,327,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Chevron by 15,548.2% in the 4th 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 in the last quarter. Morgan Stanley boosted its stake in Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after buying an additional 2,244,995 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Chevron in the third quarter valued at about $348,789,000. Envestnet Asset Management Inc. raised its stake in Chevron by 36.4% during the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after acquiring an additional 1,230,619 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Chevron by 28.3% in the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock worth $704,822,000 after acquiring an additional 923,119 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Piper Sandler upped 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. Mizuho boosted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Finally, Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Stock Down 0.3 %

Shares of Chevron stock opened at $160.25 on Friday. The stock’s 50-day moving average is $157.26 and its 200 day moving average is $151.76. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market cap of $297.63 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 2.38 and a beta of 1.11. 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 posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.55 EPS. Equities research analysts anticipate that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

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.