Cohen & Steers Inc. Acquires 15,946 Shares of Chevron Co. (NYSE:CVX)

Cohen & Steers Inc. lifted its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 22.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,574 shares of the oil and gas company's stock after acquiring an additional 15,946 shares during the period. Cohen & Steers Inc.'s holdings in Chevron were worth $12,829,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Life Planning Partners Inc bought a new position in shares of Chevron during the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new position in Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the fourth quarter valued at $29,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after buying an additional 88 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter worth about $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company lowered 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 cut their price objective on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, 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 report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $169.50.

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Chevron Stock Performance

Shares of CVX traded down $0.77 during midday trading on Tuesday, reaching $134.55. 9,318,593 shares of the stock were exchanged, compared to its average volume of 7,894,054. The stock's 50 day simple moving average is $154.99 and its 200 day simple moving average is $153.82. The company has a market cap of $236.88 billion, a P/E ratio of 13.84, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last issued 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 firm posted $3.45 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

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

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction 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 represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

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.