Ilmarinen Mutual Pension Insurance Co Has $43.09 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Ilmarinen Mutual Pension Insurance Co boosted its position in shares of Chevron Co. (NYSE:CVX) by 35.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 297,500 shares of the oil and gas company’s stock after purchasing an additional 78,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Chevron were worth $43,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after buying an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after acquiring an additional 746,806 shares during the last quarter. Norges Bank bought a new stake in Chevron in the fourth quarter worth approximately $3,017,750,000. Fisher Asset Management LLC raised its holdings in shares of Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after purchasing an additional 410,460 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company’s stock valued at $2,502,850,000 after purchasing an additional 79,917 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $143.10 on Friday. The business’s 50 day moving average is $157.38 and its 200-day moving average is $154.10. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $251.95 billion, a PE ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 quarter last year, the firm posted $3.45 earnings per share. Sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s 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 sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.