Renaissance Technologies LLC Has $26.79 Million Stock Position in Chevron Co. (NYSE:CVX)

Renaissance Technologies LLC lowered its stake in Chevron Co. (NYSE:CVX - Free Report) by 75.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,974 shares of the oil and gas company's stock after selling 569,539 shares during the quarter. Renaissance Technologies LLC's holdings in Chevron were worth $26,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Geode Capital Management LLC boosted its stake in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after purchasing an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after buying an additional 746,806 shares during the last quarter. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter valued at about $3,017,750,000. Fisher Asset Management LLC raised its holdings in shares of Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after acquiring an additional 410,460 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Chevron by 0.5% during the fourth quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock worth $2,502,850,000 after buying an additional 79,917 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts recently weighed in on CVX shares. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Truist Financial decreased their price target on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $160.00 to $143.00 in a research report on Friday. Finally, Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $172.20.

Chevron Stock Performance

Shares of NYSE:CVX traded down $0.49 during midday trading on Monday, reaching $135.14. 9,615,075 shares of the company's stock traded hands, compared to its average volume of 7,885,695. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The stock has a 50 day moving average of $155.34 and a 200 day moving average of $153.90. The company has a market cap of $237.93 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last issued 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 period in the previous year, the business posted $3.45 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.71 dividend. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 5.06%. 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 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 completion of the transaction, the vice president now directly owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

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.