Nebula Research & Development LLC Has $1.33 Million Position in Chevron Co. (NYSE:CVX)

Nebula Research & Development LLC grew its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 127.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,208 shares of the oil and gas company's stock after acquiring an additional 5,165 shares during the quarter. Nebula Research & Development LLC's holdings in Chevron were worth $1,334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Kovitz Investment Group Partners LLC boosted its holdings in Chevron by 54.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 261,860 shares of the oil and gas company's stock worth $37,928,000 after purchasing an additional 92,294 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its position in Chevron by 1.6% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 97,948 shares of the oil and gas company's stock worth $14,187,000 after buying an additional 1,547 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of Chevron by 3.8% during the 4th quarter. Hancock Whitney Corp now owns 96,200 shares of the oil and gas company's stock worth $13,934,000 after buying an additional 3,482 shares during the last quarter. Empire Financial Management Company LLC grew its holdings in shares of Chevron by 2.3% in the 4th quarter. Empire Financial Management Company LLC now owns 21,361 shares of the oil and gas company's stock valued at $3,094,000 after acquiring an additional 480 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in shares of Chevron by 7.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 117,062 shares of the oil and gas company's stock valued at $16,955,000 after acquiring an additional 8,295 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on CVX shares. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Redburn Atlantic restated a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, UBS Group decreased their price objective 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $165.71.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was 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 in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company's stock.

Chevron Stock Performance

Shares of Chevron stock traded down $0.80 on Tuesday, hitting $139.30. The stock had a trading volume of 7,337,270 shares, compared to its average volume of 7,937,338. The stock has a market cap of $245.25 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The business's 50 day moving average is $151.35 and its two-hundred day moving average is $152.91. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

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 for the quarter, missing the consensus estimate 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 period in the prior year, the firm posted $3.45 EPS. Analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.91%. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is currently 70.37%.

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.