F M Investments LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

F M Investments LLC raised its stake in Chevron Co. (NYSE:CVX - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,748 shares of the oil and gas company's stock after buying an additional 13,379 shares during the period. F M Investments LLC's holdings in Chevron were worth $11,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after purchasing an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock valued at $4,613,960,000 after purchasing an additional 746,806 shares during the last quarter. Norges Bank acquired a new stake in Chevron during the fourth quarter worth about $3,017,750,000. Fisher Asset Management LLC increased its holdings in Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after buying an additional 410,460 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after buying an additional 79,917 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Down 0.7 %

Shares of NYSE CVX traded down $0.94 during mid-day trading on Monday, reaching $134.69. The company had a trading volume of 3,802,414 shares, compared to its average volume of 7,863,594. The firm has a 50 day simple moving average of $155.34 and a two-hundred day simple moving average of $153.90. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $237.14 billion, a P/E ratio of 13.86, 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 earnings per share (EPS) 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 period last year, the firm posted $3.45 EPS. Sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is 70.37%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CVX shares. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $160.00 to $143.00 in a research note on Friday. Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. 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 research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $172.20.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Company 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.