Chevron Co. (NYSE:CVX) Stock Position Lifted by SVB Wealth LLC

SVB Wealth LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,333 shares of the oil and gas company’s stock after purchasing an additional 241 shares during the quarter. SVB Wealth LLC’s holdings in Chevron were worth $9,745,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its holdings in shares of Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the period. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter valued at $3,058,235,000. Imprint Wealth LLC lifted its holdings in shares of Chevron by 15,457.0% in the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after buying an additional 5,343,782 shares during the period. Morgan Stanley lifted its holdings in shares of Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on CVX. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Monday, January 8th. Mizuho upped their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company upped their target price on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $183.55.

Chevron Stock Performance

Shares of NYSE CVX opened at $156.28 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a market cap of $290.25 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 2.37 and a beta of 1.12. The business’s 50-day simple moving average is $155.11 and its 200-day simple moving average is $151.83. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.54.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.09 EPS. As a group, equities research analysts expect that Chevron Co. will post 13.28 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s dividend payout ratio is presently 57.39%.

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.