Intact Investment Management Inc. Purchases 2,550 Shares of Chevron Co. (NYSE:CVX)

Intact Investment Management Inc. increased its position in Chevron Co. (NYSE:CVX) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 72,000 shares of the oil and gas company’s stock after acquiring an additional 2,550 shares during the quarter. Intact Investment Management Inc.’s holdings in Chevron were worth $10,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter valued at about $29,000. Fairway Wealth LLC grew its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Darwin Wealth Management LLC bought a new stake in Chevron during the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the third quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter valued at about $39,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’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 transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, 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 link. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $153.56 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. The company has a market capitalization of $270.35 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The business’s 50-day moving average is $154.85 and its 200 day moving average is $151.92.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 period in the previous year, the company earned $3.45 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.45%. Chevron’s dividend payout ratio is 70.37%.

Analysts Set New Price Targets

Several analysts have issued reports on CVX shares. UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.