Operose Advisors LLC Purchases 1,932 Shares of Chevron Co. (NYSE:CVX)

Operose Advisors LLC lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 41.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,632 shares of the oil and gas company's stock after acquiring an additional 1,932 shares during the quarter. Operose Advisors LLC's holdings in Chevron were worth $961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Norges Bank purchased a new position in Chevron in the fourth quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron in the 4th quarter worth about $1,036,302,000. Bank of New York Mellon Corp grew its holdings in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after buying an additional 2,432,756 shares in the last quarter. Amundi increased its holdings in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. Finally, Invesco Ltd. lifted its holdings in Chevron by 6.9% in the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock worth $2,176,579,000 after purchasing an additional 964,426 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research analyst reports. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $169.50.

Chevron Price Performance

Shares of CVX stock traded up $2.32 on Friday, hitting $137.68. 8,423,604 shares of the company's stock were exchanged, compared to its average volume of 7,913,168. The company has a 50 day moving average of $153.94 and a 200 day moving average of $153.50. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. 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 stock has a market cap of $242.39 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last announced 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 business posted $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.97%. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company's stock.

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.