Sumitomo Mitsui DS Asset Management Company Ltd Boosts Position in Chevron Co. (NYSE:CVX)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Chevron Co. (NYSE:CVX) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 570,118 shares of the oil and gas company’s stock after buying an additional 1,394 shares during the period. Chevron comprises 0.8% of Sumitomo Mitsui DS Asset Management Company Ltd’s holdings, making the stock its 26th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Chevron were worth $82,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CVX. Rational Advisors LLC purchased a new position in Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the third quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth about $39,000. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Stock Down 0.7 %

NYSE:CVX opened at $151.86 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. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market cap of $272.90 billion, a PE ratio of 15.62, a P/E/G ratio of 1.29 and a beta of 1.11. The company’s 50 day moving average is $152.60 and its two-hundred day moving average is $150.90.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the company earned $3.45 earnings per share. Analysts anticipate that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 67.08%.

Analysts Set New Price Targets

Several research firms have recently commented on CVX. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Finally, Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

About Chevron

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.