Capital World Investors Purchases 1,440,808 Shares of Chevron Co. (NYSE:CVX)

Capital World Investors lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,079,656 shares of the oil and gas company's stock after acquiring an additional 1,440,808 shares during the period. Capital World Investors owned 0.78% of Chevron worth $2,039,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Carbahal Olsen Financial Services Group LLC acquired a new stake in Chevron in the 4th quarter valued at about $250,000. Dimensional Fund Advisors LP lifted its position in shares of Chevron by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,241,225 shares of the oil and gas company's stock valued at $1,772,868,000 after acquiring an additional 63,545 shares during the last quarter. Elevatus Welath Management boosted its stake in shares of Chevron by 2.2% during the 4th quarter. Elevatus Welath Management now owns 4,639 shares of the oil and gas company's stock worth $672,000 after acquiring an additional 102 shares in the last quarter. Forum Financial Management LP raised its position in shares of Chevron by 12.8% during the fourth quarter. Forum Financial Management LP now owns 36,561 shares of the oil and gas company's stock worth $5,296,000 after purchasing an additional 4,160 shares during the period. Finally, Freedom Investment Management Inc. raised its holdings in Chevron by 1.8% during the 4th quarter. Freedom Investment Management Inc. now owns 9,256 shares of the oil and gas company's stock worth $1,341,000 after buying an additional 167 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction that occurred on 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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of NYSE CVX traded down $1.03 during trading on Wednesday, reaching $136.27. The company had a trading volume of 6,100,032 shares, compared to its average volume of 7,932,029. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The business's 50 day moving average price is $152.74 and its 200-day moving average price is $153.22. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $239.92 billion, a PE ratio of 14.02, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 business posted $3.45 EPS. Analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.02%. This is a boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio (DPR) is currently 70.37%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada reissued an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $165.71.

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.