Alberta Investment Management Corp Acquires 118,190 Shares of Chevron Co. (NYSE:CVX)

Alberta Investment Management Corp grew its stake in Chevron Co. (NYSE:CVX - Free Report) by 862.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 131,890 shares of the oil and gas company's stock after purchasing an additional 118,190 shares during the quarter. Alberta Investment Management Corp's holdings in Chevron were worth $19,103,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $29,000. Rational Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Down 1.2 %

CVX stock traded down $1.87 during trading hours on Friday, reaching $156.92. 6,686,883 shares of the stock were exchanged, compared to its average volume of 6,690,703. The company has a market cap of $282.00 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. The firm's 50-day moving average is $151.97 and its 200-day moving average is $150.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 period in the prior year, the firm posted $3.45 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.36%. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Citigroup raised Chevron from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Finally, Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of "Moderate Buy" and a consensus 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.