Chevron Co. (NYSE:CVX) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its stake in shares of Chevron Co. (NYSE:CVX) by 2.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 867,609 shares of the oil and gas company’s stock after buying an additional 22,525 shares during the period. Royal London Asset Management Ltd.’s holdings in Chevron were worth $125,664,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CVX. United Bank lifted its stake in shares of Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after buying an additional 629 shares during the period. Prospera Private Wealth LLC grew its stake in Chevron by 404.8% in the 3rd quarter. Prospera Private Wealth LLC now owns 52,012 shares of the oil and gas company’s stock worth $7,660,000 after acquiring an additional 41,709 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in shares of Chevron by 93.6% during the third quarter. Segall Bryant & Hamill LLC now owns 125,646 shares of the oil and gas company’s stock worth $18,504,000 after purchasing an additional 60,750 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Chevron by 11.9% during the third quarter. Jennison Associates LLC now owns 449,683 shares of the oil and gas company’s stock worth $66,225,000 after purchasing an additional 47,747 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Chevron by 429.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 245,477 shares of the oil and gas company’s stock valued at $36,151,000 after purchasing an additional 199,148 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $164.00 on Thursday. The firm has a market cap of $288.73 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a 50-day simple moving average of $155.77 and a 200-day simple moving average of $152.31.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 quarter last year, the company posted $3.45 earnings per share. On average, equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company 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 was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.17%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.