E Fund Management Co. Ltd. Has $2.71 Million Position in Chevron Co. (NYSE:CVX)

E Fund Management Co. Ltd. increased its position in Chevron Co. (NYSE:CVX) by 61.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,702 shares of the oil and gas company’s stock after buying an additional 7,118 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Chevron were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Pettinga Financial Advisors LLC increased its stake in shares of Chevron by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after buying an additional 272 shares during the period. Harvest Portfolios Group Inc. increased its position in Chevron by 11.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 10,655 shares of the oil and gas company’s stock valued at $1,569,000 after purchasing an additional 1,113 shares during the period. Maia Wealth LLC increased its position in Chevron by 3.1% during the 3rd quarter. Maia Wealth LLC now owns 3,577 shares of the oil and gas company’s stock valued at $538,000 after purchasing an additional 107 shares during the period. Blake Schutter Theil Wealth Advisors LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $902,000. Finally, Financial Enhancement Group LLC increased its position in Chevron by 13.8% during the 3rd quarter. Financial Enhancement Group LLC now owns 1,533 shares of the oil and gas company’s stock valued at $235,000 after purchasing an additional 186 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $152.94 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business’s fifty day moving average is $153.83 and its 200 day moving average is $151.62. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $269.27 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) 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 prior year, the firm earned $3.45 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend 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 4.47%. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Buying and Selling at Chevron

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVX shares. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group decreased their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron 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.