Ilmarinen Mutual Pension Insurance Co Purchases 78,500 Shares of Chevron Co. (NYSE:CVX)

Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 35.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 297,500 shares of the oil and gas company's stock after buying an additional 78,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Chevron were worth $43,090,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CVX. United Bank grew its holdings in Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company's stock worth $1,192,000 after purchasing an additional 629 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $2,370,000. Texas Capital Bank Wealth Management Services Inc raised its position in shares of Chevron by 87.7% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 5,708 shares of the oil and gas company's stock worth $841,000 after purchasing an additional 2,667 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Chevron by 1,202.3% in the 3rd quarter. Two Sigma Advisers LP now owns 245,563 shares of the oil and gas company's stock worth $36,164,000 after purchasing an additional 226,707 shares in the last quarter. Finally, Wills Financial Group Inc. grew its position in Chevron by 5.0% in the 3rd quarter. Wills Financial Group Inc. now owns 38,004 shares of the oil and gas company's stock valued at $5,597,000 after purchasing an additional 1,817 shares during the period. Institutional investors own 72.42% of the company's stock.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVX shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Barclays cut their target price on Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday. Finally, Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $173.53.

Chevron Stock Performance

Shares of Chevron stock traded up $0.48 during trading hours on Wednesday, reaching $137.41. The company had a trading volume of 6,225,889 shares, compared to its average volume of 7,754,428. 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 one year low of $132.18 and a one year high of $168.96. The firm has a market cap of $241.93 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The business has a fifty day simple moving average of $156.26 and a 200 day simple moving average of $154.03.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts' consensus estimates 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 previous year, the business posted $3.45 EPS. On average, analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.98%. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio (DPR) is presently 70.37%.

About Chevron

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.