Mutual Advisors LLC raised its position in Chevron Co. (NYSE:CVX – Get Rating) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,189 shares of the oil and gas company’s stock after buying an additional 2,133 shares during the period. Chevron accounts for 0.6% of Mutual Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. Mutual Advisors LLC’s holdings in Chevron were worth $13,675,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Chevron by 1.5% in the 2nd quarter. Northern Trust Corp now owns 25,219,717 shares of the oil and gas company’s stock valued at $3,651,311,000 after buying an additional 371,458 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock valued at $2,393,138,000 after buying an additional 189,762 shares during the last quarter. Legal & General Group Plc increased its stake in Chevron by 16.3% in the 2nd quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock valued at $1,964,620,000 after buying an additional 1,899,104 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Chevron by 7.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 12,052,751 shares of the oil and gas company’s stock valued at $1,731,739,000 after buying an additional 847,841 shares during the last quarter. Finally, FMR LLC increased its stake in Chevron by 62.3% in the 2nd quarter. FMR LLC now owns 11,343,585 shares of the oil and gas company’s stock valued at $1,642,325,000 after buying an additional 4,354,660 shares during the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.
Chevron Stock Up 3.1 %
Shares of NYSE:CVX opened at $159.31 on Wednesday. The firm has a fifty day moving average price of $168.31 and a two-hundred day moving average price of $169.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23. Chevron Co. has a one year low of $132.54 and a one year high of $189.68. The company has a market cap of $303.75 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 0.73 and a beta of 1.16.
Chevron Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 16th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 3.79%. This is an increase from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Wednesday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 33.04%.
Chevron announced that its board has authorized a stock buyback plan on Wednesday, January 25th that authorizes the company to buyback $75.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 21.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on CVX shares. Raymond James reduced their target price on shares of Chevron from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Monday, January 30th. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and increased their target price for the company from $190.00 to $191.00 in a research report on Friday, January 6th. Piper Sandler reduced their target price on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Mizuho reissued a “neutral” rating and set a $206.00 target price on shares of Chevron in a research report on Friday, March 17th. Finally, Citigroup increased their target price on shares of Chevron from $155.00 to $180.00 in a research report on Tuesday, November 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $189.50.
Insider Buying and Selling at Chevron
In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the firm’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total value of $3,343,220.00. Following the completion of the transaction, the vice president now directly owns 3,967 shares of the company’s stock, valued at approximately $674,390. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.
Chevron Company Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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