Invesco Ltd. Has $2.18 Billion Stock Holdings in Chevron Co. (NYSE:CVX)

Invesco Ltd. boosted its position in Chevron Co. (NYSE:CVX) by 6.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,027,474 shares of the oil and gas company’s stock after buying an additional 964,426 shares during the quarter. Chevron makes up 0.4% of Invesco Ltd.’s portfolio, making the stock its 25th biggest position. Invesco Ltd.’s holdings in Chevron were worth $2,176,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Allianz SE bought a new stake in shares of Chevron during the fourth quarter worth $9,369,000. Nicholas Company Inc. boosted its holdings in shares of Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Dale Q Rice Investment Management Ltd bought a new stake in Chevron during the 4th quarter worth $594,000. Unified Investment Management bought a new position in Chevron in the fourth quarter valued at about $729,000. Finally, Wedbush Securities Inc. boosted its stake in shares of Chevron by 6.8% during the fourth quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company’s stock valued at $17,101,000 after purchasing an additional 7,557 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the 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 of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

NYSE CVX opened at $143.10 on Monday. The company has a market cap of $251.95 billion, a P/E ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93. The company has a fifty day simple moving average of $157.38 and a 200 day simple moving average of $154.25. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the business earned $3.45 EPS. Sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Barclays cut their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, 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. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.