ZWJ Investment Counsel Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,866 shares of the oil and gas company's stock after purchasing an additional 4,496 shares during the quarter. Chevron accounts for about 1.4% of ZWJ Investment Counsel Inc.'s portfolio, making the stock its 29th biggest position. ZWJ Investment Counsel Inc.'s holdings in Chevron were worth $33,873,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of CVX. State Street Corp grew its holdings in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock worth $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Chevron by 3.6% during the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company's stock worth $2,869,171,000 after buying an additional 672,244 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Chevron by 3.4% during the third 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 in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock valued at $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.
Insider Buying and Selling
In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Truist Financial raised their price target on Chevron from $160.00 to $164.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and raised their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Finally, UBS Group lifted their target price on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $175.27.
Check Out Our Latest Stock Report on CVX
Chevron Price Performance
Shares of Chevron stock traded down $1.85 during trading on Wednesday, reaching $156.39. 7,230,699 shares of the company's stock were exchanged, compared to its average volume of 8,002,224. 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 1-year low of $135.37 and a 1-year high of $167.11. The company has a market cap of $281.05 billion, a P/E ratio of 17.19, a PEG ratio of 1.45 and a beta of 1.12. The firm's 50-day moving average price is $154.09 and its 200 day moving average price is $151.07.
Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.05 EPS. As a group, research analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.
Chevron Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron's dividend payout ratio is currently 71.65%.
About Chevron
(
Free Report)
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.
Further Reading
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