Chevron Co. (NYSE:CVX) Holdings Lifted by ICW Investment Advisors LLC

ICW Investment Advisors LLC lifted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,997 shares of the oil and gas company's stock after acquiring an additional 2,159 shares during the period. ICW Investment Advisors LLC's holdings in Chevron were worth $2,172,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CVX. State Street Corp boosted its holdings in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 period. Fisher Asset Management LLC grew its holdings in Chevron by 2.1% during the 4th 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 purchasing an additional 410,460 shares in the last quarter. Franklin Resources Inc. increased its stake in Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company's stock worth $2,610,645,000 after buying an additional 573,218 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after buying an additional 2,432,756 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

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Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred 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 directly owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVX. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada restated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of "Moderate Buy" and an average price target of $174.13.

Chevron Stock Performance

Shares of NYSE CVX traded up $0.91 during midday trading on Tuesday, hitting $165.93. 7,865,154 shares of the company's stock were exchanged, compared to its average volume of 7,337,986. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market cap of $292.14 billion, a P/E ratio of 17.07, a PEG ratio of 1.46 and a beta of 1.08. The stock's 50 day moving average price is $156.49 and its 200-day moving average price is $152.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly 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 period last year, the business posted $3.45 EPS. Equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. 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 is currently 70.37%.

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.