Chevron Co. (NYSE:CVX) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Chevron Co. (NYSE:CVX) by 46.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 589,223 shares of the oil and gas company’s stock after acquiring an additional 185,528 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chevron were worth $85,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the third quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter valued at about $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CVX shares. Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group lowered their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insiders Place Their Bets

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

Chevron Stock Up 2.3 %

Shares of Chevron stock opened at $156.48 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a 50 day moving average of $154.08 and a 200 day moving average of $151.78. The company has a market capitalization of $275.51 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm posted $3.45 EPS. As a group, research analysts forecast that Chevron Co. will post 10.79 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. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.37%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is presently 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.