9,006 Shares in Chevron Co. (NYSE:CVX) Bought by GAM Holding AG

GAM Holding AG purchased a new position in Chevron Co. (NYSE:CVX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,006 shares of the oil and gas company’s stock, valued at approximately $1,304,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter valued at $29,000. Rational Advisors LLC bought a new stake in Chevron during the third quarter valued at $29,000. Darwin Wealth Management LLC bought a new stake in Chevron during the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the third quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter valued at $39,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $156.23 on Wednesday. The company has a market capitalization of $280.76 billion, a P/E ratio of 16.07, a PEG ratio of 1.39 and a beta of 1.11. The company has a 50-day simple moving average of $151.80 and a 200 day simple moving average of $150.81. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 in the prior year, the firm earned $3.45 earnings per share. Sell-side analysts predict that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.38%. Chevron’s payout ratio is 67.08%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s 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 directly owns 1,057 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

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.