Fmr LLC Has $560.02 Million Holdings in Chevron Co. (NYSE:CVX)

Fmr LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 7.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,866,447 shares of the oil and gas company’s stock after acquiring an additional 281,784 shares during the quarter. Fmr LLC owned 0.22% of Chevron worth $560,016,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its holdings in shares of Chevron by 29.2% in the fourth quarter. Federated Hermes Inc. now owns 2,899,202 shares of the oil and gas company’s stock valued at $419,920,000 after purchasing an additional 655,306 shares in the last quarter. Waterloo Capital L.P. raised its position in Chevron by 31.3% in the 4th quarter. Waterloo Capital L.P. now owns 6,874 shares of the oil and gas company’s stock valued at $996,000 after buying an additional 1,640 shares during the last quarter. Titleist Asset Management LLC lifted its stake in Chevron by 27.2% during the 4th quarter. Titleist Asset Management LLC now owns 22,986 shares of the oil and gas company’s stock valued at $3,329,000 after acquiring an additional 4,918 shares in the last quarter. Ruggaard & Associates LLC boosted its holdings in Chevron by 4.9% during the 4th quarter. Ruggaard & Associates LLC now owns 4,449 shares of the oil and gas company’s stock worth $644,000 after acquiring an additional 208 shares during the last quarter. Finally, Darden Wealth Group Inc grew its stake in shares of Chevron by 4.9% in the 4th quarter. Darden Wealth Group Inc now owns 8,141 shares of the oil and gas company’s stock worth $1,179,000 after acquiring an additional 380 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $136.62 on Wednesday. The firm has a market cap of $240.53 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. 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’s 50 day moving average is $156.26 and its 200-day moving average is $154.03. Chevron Co. has a 12-month low of $134.87 and a 12-month high of $168.96.

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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the business earned $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. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. Chevron’s dividend payout ratio is 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 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 Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CVX. Wells Fargo & Company dropped their price target 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. Piper Sandler dropped their target price 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. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

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.