Chevron Co. (NYSE:CVX) Stock Position Lifted by Rathbones Group PLC

Rathbones Group PLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 31.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 695,247 shares of the oil and gas company’s stock after buying an additional 165,922 shares during the period. Rathbones Group PLC’s holdings in Chevron were worth $100,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Twin Capital Management Inc. grew its stake in shares of Chevron by 4.0% in the 4th quarter. Twin Capital Management Inc. now owns 39,424 shares of the oil and gas company’s stock valued at $5,710,000 after buying an additional 1,530 shares in the last quarter. Invesco Ltd. grew its position in Chevron by 6.9% in the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company’s stock worth $2,176,579,000 after acquiring an additional 964,426 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Chevron by 4.5% during the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock worth $174,817,000 after purchasing an additional 52,307 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of Chevron by 4.3% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 3,022 shares of the oil and gas company’s stock valued at $438,000 after purchasing an additional 125 shares during the last quarter. Finally, Trek Financial LLC raised its holdings in Chevron by 39.2% during the fourth quarter. Trek Financial LLC now owns 7,982 shares of the oil and gas company’s stock valued at $1,156,000 after buying an additional 2,249 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CVX. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Barclays cut their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Performance

Chevron stock opened at $143.10 on Monday. The company has a market cap of $251.95 billion, a PE ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93. 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 1 year low of $135.37 and a 1 year high of $168.96. The company’s 50-day moving average is $157.38 and its two-hundred day moving average is $154.25.

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

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued 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 dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on 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 transaction, the vice president now owns 1,057 shares of the company’s stock, 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 filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by insiders.

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.