Treasurer of the State of North Carolina Raises Stake in Chevron Co. (NYSE:CVX)

Treasurer of the State of North Carolina increased its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 758,071 shares of the oil and gas company's stock after buying an additional 4,760 shares during the quarter. Chevron comprises 0.4% of Treasurer of the State of North Carolina's holdings, making the stock its 29th largest position. Treasurer of the State of North Carolina's holdings in Chevron were worth $109,799,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Life Planning Partners Inc purchased a new position in Chevron during the fourth quarter worth about $25,000. IMG Wealth Management Inc. acquired a new position in Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter worth $29,000. Fairway Wealth LLC boosted its position in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CVX shares. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $172.20.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction dated Friday, February 7th. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Down 0.4 %

Shares of CVX traded down $0.48 during mid-day trading on Monday, reaching $135.15. The company's stock had a trading volume of 4,288,917 shares, compared to its average volume of 7,865,384. 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 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market cap of $237.94 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company's 50 day moving average is $155.34 and its 200 day moving average is $153.90.

Chevron (NYSE:CVX - Get Free Report) last released 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm posted $3.45 EPS. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is currently 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.