Chevron Co. (NYSE:CVX) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its stake in Chevron Co. (NYSE:CVX) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,855 shares of the oil and gas company’s stock after purchasing an additional 10,772 shares during the period. Daiwa Securities Group Inc.’s holdings in Chevron were worth $43,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Chevron by 46.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 589,223 shares of the oil and gas company’s stock valued at $85,343,000 after purchasing an additional 185,528 shares in the last quarter. Fairscale Capital LLC increased its stake in shares of Chevron by 11.5% during the fourth quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company’s stock worth $102,000 after buying an additional 73 shares during the period. Solitude Financial Services raised its holdings in Chevron by 11.0% in the fourth quarter. Solitude Financial Services now owns 22,378 shares of the oil and gas company’s stock valued at $3,241,000 after acquiring an additional 2,213 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in Chevron by 28.7% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,613 shares of the oil and gas company’s stock worth $813,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Enterprise Financial Services Corp lifted its stake in Chevron by 1.2% in the fourth quarter. Enterprise Financial Services Corp now owns 7,571 shares of the oil and gas company’s stock worth $1,097,000 after acquiring an additional 88 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 2.3 %

Shares of NYSE:CVX opened at $156.48 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market cap of $275.51 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a fifty day moving average price of $154.08 and a 200 day moving average price of $151.78.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 company posted $3.45 EPS. Sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.37%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. UBS Group dropped their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.