Ontario Teachers Pension Plan Board Acquires 5,453 Shares of Chevron Co. (NYSE:CVX)

Ontario Teachers Pension Plan Board boosted its stake in Chevron Co. (NYSE:CVX - Free Report) by 99.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,924 shares of the oil and gas company's stock after buying an additional 5,453 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Chevron were worth $1,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Allianz SE acquired a new stake in Chevron in the 4th quarter worth approximately $9,369,000. Nicholas Company Inc. grew its stake in Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after buying an additional 3,280 shares during the last quarter. Applied Finance Capital Management LLC raised its holdings in Chevron by 1.6% in the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after acquiring an additional 2,755 shares during the period. Cerity Partners LLC boosted its holdings in Chevron by 4.5% during the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock valued at $174,817,000 after acquiring an additional 52,307 shares during the period. Finally, Dale Q Rice Investment Management Ltd bought a new position in shares of Chevron in the fourth quarter worth about $594,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Tuesday. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Finally, UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $169.50.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $161,192.50. This trade 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 the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

Shares of CVX traded up $2.32 during trading hours on Friday, hitting $137.68. The stock had a trading volume of 8,423,604 shares, compared to its average volume of 7,913,168. The stock has a market capitalization of $242.39 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.46 and a beta of 0.93. 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 company's fifty day moving average is $153.94 and its two-hundred day moving average is $153.50. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

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 the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business posted $3.45 EPS. On average, analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.97%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio 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.