Johnson Financial Group Inc. Raises Holdings in Chevron Co. (NYSE:CVX)

Johnson Financial Group Inc. increased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,315 shares of the oil and gas company's stock after buying an additional 4,718 shares during the quarter. Johnson Financial Group Inc.'s holdings in Chevron were worth $3,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC lifted its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter valued at approximately $39,000. Finally, Prudent Man Investment Management Inc. purchased a new position in Chevron during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Redburn Atlantic reissued a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Chevron has an average rating of "Hold" and a consensus price target of $165.71.

Chevron Trading Up 1.0 %

CVX stock traded up $1.36 during mid-day trading on Monday, reaching $140.09. 6,701,612 shares of the stock traded hands, compared to its average volume of 7,933,433. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The stock has a market capitalization of $246.64 billion, a PE ratio of 14.41, a PEG ratio of 1.46 and a beta of 0.93. The business has a 50-day moving average price of $151.70 and a two-hundred day moving average price of $152.99.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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 quarter in the prior year, the firm posted $3.45 EPS. Equities research analysts expect 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. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.88%. Chevron's dividend payout ratio is presently 70.37%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's 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 directly owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

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.