Chevron Co. (NYSE:CVX) Position Boosted by Conning Inc.

Conning Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 1,881.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,466 shares of the oil and gas company’s stock after acquiring an additional 224,531 shares during the quarter. Conning Inc.’s holdings in Chevron were worth $34,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Joel Isaacson & Co. LLC grew its stake in Chevron by 3.3% during the 4th quarter. Joel Isaacson & Co. LLC now owns 15,411 shares of the oil and gas company’s stock valued at $2,232,000 after acquiring an additional 488 shares in the last quarter. Seamount Financial Group Inc. grew its stake in Chevron by 1.6% during the 4th quarter. Seamount Financial Group Inc. now owns 6,526 shares of the oil and gas company’s stock valued at $945,000 after acquiring an additional 101 shares in the last quarter. Shepherd Financial Partners LLC grew its stake in Chevron by 1.6% during the 4th quarter. Shepherd Financial Partners LLC now owns 4,408 shares of the oil and gas company’s stock valued at $638,000 after acquiring an additional 71 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Chevron during the 4th quarter valued at about $1,100,000. Finally, Global X Japan Co. Ltd. grew its stake in Chevron by 27.1% during the 4th quarter. Global X Japan Co. Ltd. now owns 3,458 shares of the oil and gas company’s stock valued at $501,000 after acquiring an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James lowered 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. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Finally, UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Up 0.4 %

CVX opened at $152.54 on Friday. The business has a 50 day moving average price of $152.40 and a 200 day moving average price of $150.91. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $274.13 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its quarterly 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 period last year, the business earned $3.45 EPS. Research analysts forecast that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s payout ratio is 67.08%.

About Chevron

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.