Sei Investments Co. Purchases 14,427 Shares of Chevron Co. (NYSE:CVX)

Sei Investments Co. grew its holdings in Chevron Co. (NYSE:CVX - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 646,755 shares of the oil and gas company's stock after buying an additional 14,427 shares during the quarter. Sei Investments Co.'s holdings in Chevron were worth $93,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CVX. Plancorp LLC increased its position in Chevron by 6.0% in the 4th quarter. Plancorp LLC now owns 10,998 shares of the oil and gas company's stock valued at $1,593,000 after acquiring an additional 624 shares in the last quarter. Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 36.4% in the fourth quarter. Cyrus J. Lawrence LLC now owns 341 shares of the oil and gas company's stock valued at $49,000 after purchasing an additional 91 shares in the last quarter. Mizuho Securities USA LLC raised its position in Chevron by 43.6% in the 4th quarter. Mizuho Securities USA LLC now owns 158,401 shares of the oil and gas company's stock worth $22,943,000 after purchasing an additional 48,107 shares during the last quarter. Virtu Financial LLC acquired a new position in Chevron during the 4th quarter worth $3,036,000. Finally, ZEGA Investments LLC bought a new position in Chevron in the 4th quarter valued at $427,000. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Finally, Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and an average target price of $174.13.

Chevron Stock Up 1.2 %

Shares of CVX traded up $2.01 during midday trading on Wednesday, hitting $167.95. The stock had a trading volume of 10,074,927 shares, compared to its average volume of 7,351,860. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $295.69 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a 50 day simple moving average of $156.67 and a two-hundred day simple moving average of $153.01. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $168.93.

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

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is 70.37%.

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.