Fort Washington Investment Advisors Inc. OH trimmed its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 554,534 shares of the oil and gas company’s stock after selling 1,222 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Chevron were worth $99,534,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in Chevron by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock worth $2,393,138,000 after buying an additional 189,762 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Chevron by 7.6% in the third quarter. Dimensional Fund Advisors LP now owns 12,052,751 shares of the oil and gas company’s stock worth $1,731,739,000 after acquiring an additional 847,841 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Chevron by 1.6% in the third quarter. Nuveen Asset Management LLC now owns 9,953,548 shares of the oil and gas company’s stock worth $1,430,026,000 after acquiring an additional 155,955 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Chevron by 4.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,762,782 shares of the oil and gas company’s stock worth $1,115,281,000 after acquiring an additional 309,277 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Chevron by 0.8% in the third quarter. Fisher Asset Management LLC now owns 6,792,458 shares of the oil and gas company’s stock worth $975,872,000 after acquiring an additional 52,663 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. StockNews.com assumed coverage on shares of Chevron in a report on Thursday, March 16th. They issued a “hold” rating for the company. Morgan Stanley dropped their target price on shares of Chevron from $195.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, March 27th. Piper Sandler dropped their target price on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Finally, Raymond James dropped their price objective on shares of Chevron from $215.00 to $212.00 and set an “outperform” rating for the company in a report on Monday, January 30th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.11.
Insider Transactions at Chevron
Chevron Stock Up 0.2 %
Chevron stock opened at $172.44 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68. The firm has a 50 day moving average price of $163.82 and a two-hundred day moving average price of $170.43. The firm has a market cap of $328.79 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 0.83 and a beta of 1.16.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by ($0.07). Chevron had a return on equity of 23.52% and a net margin of 14.40%. The firm had revenue of $56.47 billion for the quarter, compared to the consensus estimate of $53.97 billion. During the same quarter in the previous year, the business posted $2.56 EPS. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 14.53 EPS for the current year.
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 dividend of $1.51 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 annualized dividend and a yield of 3.50%. Chevron’s dividend payout ratio (DPR) is presently 33.04%.
Chevron announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 25th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the oil and gas company to buy up to 21.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Chevron 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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