Charles Schwab Investment Management Inc. Grows Stake in Chevron Co. (NYSE:CVX)

Charles Schwab Investment Management Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 2.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,855,566 shares of the oil and gas company’s stock after acquiring an additional 746,806 shares during the quarter. Chevron comprises 0.9% of Charles Schwab Investment Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Charles Schwab Investment Management Inc. owned about 1.77% of Chevron worth $4,613,960,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Tacita Capital Inc lifted its holdings in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 65 shares during the period. Wallace Capital Management Inc. lifted its holdings in shares of Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after buying an additional 65 shares during the period. TFB Advisors LLC lifted its holdings in shares of Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after buying an additional 66 shares during the period. W.H. Cornerstone Investments Inc. lifted its holdings in shares of Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after buying an additional 66 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CVX. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

Chevron stock opened at $153.05 on Tuesday. 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 stock has a fifty day moving average of $153.35 and a two-hundred day moving average of $151.58. The company has a market capitalization of $269.46 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the company posted $3.45 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.47%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Chevron 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.