New York Life Investment Management LLC Has $37.17 Million Stock Position in Chevron Co. (NYSE:CVX)

New York Life Investment Management LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 10.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 249,213 shares of the oil and gas company’s stock after selling 28,516 shares during the period. New York Life Investment Management LLC’s holdings in Chevron were worth $37,173,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Picton Mahoney Asset Management bought a new position in Chevron during the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc increased its stake in shares of Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on CVX shares. UBS Group upped their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Wells Fargo & Company raised their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday. HSBC raised their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday. Mizuho raised their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Chevron Stock Down 1.0 %

NYSE:CVX traded down $1.64 during trading hours on Wednesday, hitting $159.63. 7,712,360 shares of the company traded hands, compared to its average volume of 8,445,484. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $156.96 and its 200-day simple moving average is $151.68. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a market cap of $296.48 billion, a PE ratio of 14.69, a PEG ratio of 2.43 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period last year, the business earned $3.55 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 13.71 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.