FIL Ltd Raises Holdings in Chevron Co. (NYSE:CVX)

FIL Ltd lifted its position in Chevron Co. (NYSE:CVX - Free Report) by 538.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 378,736 shares of the oil and gas company's stock after purchasing an additional 319,425 shares during the quarter. FIL Ltd's holdings in Chevron were worth $54,856,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Shelton Capital Management raised its holdings in shares of Chevron by 12.3% during the fourth quarter. Shelton Capital Management now owns 81,429 shares of the oil and gas company's stock worth $11,794,000 after purchasing an additional 8,921 shares during the last quarter. Canopy Partners LLC raised its stake in shares of Chevron by 9.1% during the 4th quarter. Canopy Partners LLC now owns 6,946 shares of the oil and gas company's stock valued at $1,006,000 after buying an additional 578 shares during the last quarter. Elgethun Capital Management lifted its holdings in shares of Chevron by 6.3% in the 4th quarter. Elgethun Capital Management now owns 6,580 shares of the oil and gas company's stock valued at $953,000 after buying an additional 389 shares during the period. Rathbones Group PLC boosted its stake in shares of Chevron by 31.3% in the fourth quarter. Rathbones Group PLC now owns 695,247 shares of the oil and gas company's stock worth $100,700,000 after buying an additional 165,922 shares during the last quarter. Finally, Twin Capital Management Inc. grew its holdings in Chevron by 4.0% during the fourth quarter. Twin Capital Management Inc. now owns 39,424 shares of the oil and gas company's stock worth $5,710,000 after acquiring an additional 1,530 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

Shares of NYSE CVX traded up $0.07 during midday trading on Monday, hitting $135.70. The stock had a trading volume of 2,843,326 shares, compared to its average volume of 7,860,028. 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 Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a market capitalization of $238.91 billion, a PE ratio of 13.96, a P/E/G ratio of 1.46 and a beta of 0.93. The stock has a 50 day simple moving average of $155.34 and a 200-day simple moving average of $153.90.

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

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 5.04%. Chevron's dividend payout ratio is presently 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.