Chevron Co. (NYSE:CVX) Stock Holdings Decreased by Cigna Investments Inc. New

Cigna Investments Inc. New lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 1.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,569 shares of the oil and gas company’s stock after selling 232 shares during the quarter. Cigna Investments Inc. New’s holdings in Chevron were worth $2,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after acquiring an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after acquiring an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Chevron by 949.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after acquiring an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after buying an additional 3,203,899 shares during the period. Finally, State Street Corp increased its stake in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $155.76 on Tuesday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a fifty day simple moving average of $152.21 and a 200 day simple moving average of $150.82. The stock has a market capitalization of $279.91 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.39 and a beta of 1.11. 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 (NYSE:CVX) last announced 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 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. Research analysts forecast that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business 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 of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.39%. Chevron’s dividend payout ratio is presently 67.08%.

Insider Activity

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on CVX shares. Barclays dropped their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.