ING Groep NV Buys 196,026 Shares of Chevron Co. (NYSE:CVX)

ING Groep NV increased its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 3,942.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,998 shares of the oil and gas company's stock after purchasing an additional 196,026 shares during the period. ING Groep NV's holdings in Chevron were worth $29,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CVX. Allspring Global Investments Holdings LLC grew its stake in Chevron by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company's stock worth $32,924,000 after buying an additional 27,483 shares in the last quarter. Xcel Wealth Management LLC grew its stake in Chevron by 3.3% during the third quarter. Xcel Wealth Management LLC now owns 4,048 shares of the oil and gas company's stock worth $596,000 after buying an additional 131 shares in the last quarter. Eastern Bank grew its stake in Chevron by 82.2% during the third quarter. Eastern Bank now owns 256,979 shares of the oil and gas company's stock worth $37,845,000 after buying an additional 115,927 shares in the last quarter. Pegasus Asset Management Inc. grew its stake in Chevron by 0.6% during the third quarter. Pegasus Asset Management Inc. now owns 28,829 shares of the oil and gas company's stock worth $4,246,000 after buying an additional 169 shares in the last quarter. Finally, Hofer & Associates. Inc grew its stake in Chevron by 9.1% during the third quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company's stock worth $243,000 after buying an additional 138 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. DZ Bank upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Raymond James reduced their price target 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. Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Barclays reduced their price target 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, Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and raised their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

Chevron Trading Down 1.2 %

NYSE:CVX traded down $1.87 during mid-day trading on Friday, hitting $156.92. 6,686,883 shares of the company's stock were exchanged, compared to its average volume of 6,690,703. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a 50 day simple moving average of $151.97 and a 200-day simple moving average of $151.05. The firm has a market capitalization of $282.00 billion, a P/E ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly 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 quarter in the prior year, the business posted $3.45 EPS. As a group, research 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 will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.36%. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction 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 in the company, valued at $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 available through this link. Company insiders own 0.20% of the company's stock.

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.