Chevron Co. (NYSE:CVX) Shares Purchased by US Bancorp DE

US Bancorp DE boosted its stake in Chevron Co. (NYSE:CVX) by 2.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,209,632 shares of the oil and gas company’s stock after purchasing an additional 57,668 shares during the quarter. US Bancorp DE’s holdings in Chevron were worth $320,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 11.5% during the 3rd 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 purchasing an additional 3,203,899 shares during the last quarter. RPG Investment Advisory LLC boosted its stake in Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after purchasing an additional 3,933 shares during the last quarter. State Street Corp boosted its stake in Chevron by 0.6% during 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 purchasing an additional 874,962 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Chevron by 5.7% during the 3rd quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock worth $463,560,000 after acquiring an additional 171,089 shares during the period. Finally, Dale Q Rice Investment Management Ltd purchased a new position in shares of Chevron during the 4th quarter worth $594,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value 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 $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. 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 report on Tuesday, November 26th. UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Barclays reduced their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Performance

NYSE CVX opened at $158.59 on Friday. The company has a market cap of $285.00 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.11. 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 50-day moving average of $153.14 and a two-hundred day moving average of $151.44. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last released 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 net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the company earned $3.45 earnings per share. As a group, analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced 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. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s 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.