Chevron Co. (NYSE:CVX) Shares Purchased by Prudential PLC

Prudential PLC raised its stake in Chevron Co. (NYSE:CVX) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,572 shares of the oil and gas company’s stock after acquiring an additional 5,206 shares during the period. Prudential PLC’s holdings in Chevron were worth $4,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Wescott Financial Advisory Group LLC lifted its stake in Chevron by 6.9% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,492 shares of the oil and gas company’s stock valued at $506,000 after buying an additional 224 shares during the last quarter. Yoffe Investment Management LLC purchased a new stake in Chevron in the 4th quarter valued at $624,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Chevron by 3.1% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 9,349 shares of the oil and gas company’s stock worth $1,354,000 after purchasing an additional 279 shares during the period. Orleans Capital Management Corp LA increased its stake in Chevron by 3.5% in the fourth quarter. Orleans Capital Management Corp LA now owns 19,727 shares of the oil and gas company’s stock valued at $3,106,000 after purchasing an additional 673 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at about $217,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Piper Sandler cut 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. Wells Fargo & Company decreased their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Down 8.3 %

Shares of Chevron stock opened at $143.10 on Friday. The company has a 50-day moving average of $157.38 and a two-hundred day moving average of $154.18. The stock has a market cap of $251.95 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm earned $3.45 EPS. On average, research 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 was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.