abrdn plc Acquires 269,512 Shares of Chevron Co. (NYSE:CVX)

abrdn plc grew its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 53.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 773,101 shares of the oil and gas company’s stock after acquiring an additional 269,512 shares during the period. abrdn plc’s holdings in Chevron were worth $115,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in shares of Chevron during the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Chevron during the 4th quarter valued at $33,000. Worth Asset Management LLC purchased a new position in shares of Chevron during the 1st quarter valued at $36,000. Finally, Legacy Financial Group LLC purchased a new stake in Chevron in the 3rd quarter worth $43,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $160.00 on Friday. The company has a market capitalization of $297.16 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 2.41 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.38. The firm’s 50-day moving average is $155.44 and its 200 day moving average is $151.75. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVXGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.09 EPS. Research analysts predict that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Wells Fargo & Company boosted their price target on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Barclays assumed coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Piper Sandler boosted their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Check Out Our Latest Stock Analysis on Chevron

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Chevron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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