Headlands Technologies LLC Buys Shares of 56,780 Chevron Co. (NYSE:CVX)

Headlands Technologies LLC acquired a new position in shares of Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 56,780 shares of the oil and gas company's stock, valued at approximately $8,224,000. Chevron makes up approximately 0.8% of Headlands Technologies LLC's investment portfolio, making the stock its 18th largest position.

Several other institutional investors have also recently modified their holdings of the stock. United Bank raised its stake in Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company's stock worth $1,192,000 after purchasing an additional 629 shares during the period. Arete Wealth Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter worth about $2,370,000. Erste Asset Management GmbH purchased a new position in shares of Chevron in the 3rd quarter valued at $4,850,000. Kestra Investment Management LLC purchased a new stake in shares of Chevron during the third quarter worth about $1,043,000. Finally, Atom Investors LP acquired a new position in shares of Chevron in the third quarter worth about $360,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 6.5 %

Shares of CVX traded down $10.15 during trading hours on Friday, reaching $145.97. The company's stock had a trading volume of 7,810,260 shares, compared to its average volume of 8,135,141. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $257.00 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a 50 day moving average of $157.63 and a two-hundred day moving average of $154.10. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96.

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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 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 in the previous year, the company posted $3.45 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction 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 transaction, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Raymond James cut their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $174.13.

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.