RBF Capital LLC Makes New Investment in Chevron Co. (NYSE:CVX)

RBF Capital LLC bought a new position in Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 10,000 shares of the oil and gas company's stock, valued at approximately $1,448,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Norges Bank bought a new stake in shares of Chevron during the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. bought a new position in shares of Chevron in the 4th quarter worth about $1,036,302,000. Bank of New York Mellon Corp lifted its position in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Amundi boosted its stake in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after acquiring an additional 1,910,262 shares in the last quarter. Finally, Capital World Investors grew its holdings in Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX stock traded down $0.38 during trading on Friday, reaching $138.69. The stock had a trading volume of 6,875,984 shares, compared to its average volume of 7,945,520. The stock's 50 day moving average is $151.70 and its two-hundred day moving average is $152.95. The firm has a market cap of $244.18 billion, a PE ratio of 14.27, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. 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 - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company posted $3.45 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.71 dividend. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $160.00 to $143.00 in a report on Friday, April 11th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Redburn Atlantic reissued a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday. Wells Fargo & Company lowered their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus price target of $165.71.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Chevron Company 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.