Gold Investment Management Ltd. Invests $49,000 in Chevron Co. (NYSE:CVX)

Gold Investment Management Ltd. acquired a new stake in Chevron Co. (NYSE:CVXFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 330 shares of the oil and gas company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after acquiring an additional 458,080 shares during the last quarter. Morgan Stanley lifted its holdings in Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after acquiring an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after acquiring an additional 1,999,332 shares during the period. Northern Trust Corp raised its position in shares of Chevron by 2.6% during the third quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after purchasing an additional 569,850 shares during the period. Finally, Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at approximately $2,902,007,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. TD Cowen raised their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Royal Bank of Canada boosted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Wells Fargo & Company increased their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Raymond James boosted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.10.

Check Out Our Latest Stock Report on Chevron

Chevron Stock Performance

NYSE CVX traded up $4.15 during trading on Friday, reaching $162.41. 10,332,062 shares of the company’s stock were exchanged, compared to its average volume of 8,112,742. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock has a market capitalization of $299.32 billion, a P/E ratio of 14.94, a PEG ratio of 2.31 and a beta of 1.11. The business has a 50 day moving average price of $160.58 and a 200-day moving average price of $153.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the business earned $3.55 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 13.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now owns 27,725 shares in the company, valued at approximately $4,581,279. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,546 shares of company stock worth $3,176,223. Insiders own 0.20% 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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