Chevron Co. (NYSE:CVX) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its position in Chevron Co. (NYSE:CVX) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 995,798 shares of the oil and gas company’s stock after acquiring an additional 12,910 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.06% of Chevron worth $144,231,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CVX. Broadway Wealth Solutions Inc. purchased a new position in shares of Chevron during the 4th quarter worth about $396,000. New Age Alpha Advisors LLC acquired a new position in Chevron in the fourth quarter valued at approximately $5,590,000. Providence Capital Advisors LLC lifted its stake in Chevron by 1.6% in the fourth quarter. Providence Capital Advisors LLC now owns 24,447 shares of the oil and gas company’s stock valued at $3,541,000 after buying an additional 375 shares during the last quarter. Weik Capital Management grew its position in Chevron by 1.2% in the 4th quarter. Weik Capital Management now owns 13,810 shares of the oil and gas company’s stock worth $2,000,000 after purchasing an additional 160 shares during the last quarter. Finally, Norges Bank acquired a new position in Chevron during the 4th quarter worth $3,017,750,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Stock Down 0.7 %

CVX stock opened at $166.73 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $168.96. The business has a 50-day simple moving average of $157.01 and a 200 day simple moving average of $153.21. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $293.54 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

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 the consensus estimate 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 company earned $3.45 EPS. Sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.10%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Piper Sandler decreased 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. Finally, Wells Fargo & Company dropped their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Company 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.