Chevron Co. (NYSE:CVX) Shares Purchased by International Assets Investment Management LLC

Posted by Defense World Staff on Apr 13th, 2023

International Assets Investment Management LLC raised its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 131.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,715 shares of the oil and gas company’s stock after buying an additional 18,564 shares during the period. International Assets Investment Management LLC’s holdings in Chevron were worth $5,872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Good Life Advisors LLC lifted its position in shares of Chevron by 2.6% during the third quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock worth $4,031,000 after purchasing an additional 719 shares in the last quarter. Mayflower Financial Advisors LLC lifted its position in shares of Chevron by 1.6% during the fourth quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock worth $16,533,000 after purchasing an additional 1,453 shares in the last quarter. M&R Capital Management Inc. lifted its position in shares of Chevron by 9.8% during the fourth quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock worth $1,361,000 after purchasing an additional 674 shares in the last quarter. CapWealth Advisors LLC lifted its position in shares of Chevron by 0.6% during the third quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock worth $24,959,000 after purchasing an additional 1,097 shares in the last quarter. Finally, Joel Isaacson & Co. LLC lifted its position in shares of Chevron by 0.8% during the third quarter. Joel Isaacson & Co. LLC now owns 18,710 shares of the oil and gas company’s stock worth $2,688,000 after purchasing an additional 155 shares in the last quarter. 69.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Cowen reduced their target price on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Truist Financial lifted their price target on shares of Chevron from $179.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James dropped their price target on shares of Chevron from $215.00 to $212.00 and set an “outperform” rating for the company in a research note on Monday, January 30th. Wells Fargo & Company dropped their price target on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a research note on Thursday, March 2nd. Finally, Mizuho restated a “neutral” rating and issued a $206.00 price target on shares of Chevron in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $190.59.

Insider Transactions at Chevron

In other news, VP Rhonda J. Morris sold 19,666 shares of the company’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the completion of the transaction, the vice president now owns 3,967 shares in the company, valued at $674,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Chevron Stock Up 0.4 %

CVX stock opened at $169.82 on Thursday. The firm has a fifty day moving average price of $163.73 and a two-hundred day moving average price of $170.20. The firm has a market cap of $323.79 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 0.81 and a beta of 1.16. 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 1-year low of $132.54 and a 1-year high of $189.68.

Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing the consensus estimate of $4.16 by ($0.07). The firm had revenue of $56.47 billion for the quarter, compared to the consensus estimate of $53.97 billion. Chevron had a return on equity of 23.52% and a net margin of 14.40%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.56 EPS. Research analysts predict that Chevron Co. will post 14.56 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 3.56%. This is a positive change from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio is currently 33.04%.

Chevron announced that its board has authorized a stock repurchase program on Wednesday, January 25th that authorizes the company to repurchase $75.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 21.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Chevron Profile

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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.