Twin Capital Management Inc. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Twin Capital Management Inc. raised its stake in Chevron Co. (NYSE:CVX) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,424 shares of the oil and gas company’s stock after buying an additional 1,530 shares during the period. Chevron makes up approximately 0.6% of Twin Capital Management Inc.’s holdings, making the stock its 28th largest holding. Twin Capital Management Inc.’s holdings in Chevron were worth $5,710,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CVX. Invesco Ltd. grew its holdings in Chevron by 6.9% in the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company’s stock valued at $2,176,579,000 after purchasing an additional 964,426 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Chevron by 4.5% in the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock worth $174,817,000 after buying an additional 52,307 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its holdings in Chevron by 4.3% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 3,022 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 125 shares in the last quarter. Trek Financial LLC raised its position in Chevron by 39.2% during the fourth quarter. Trek Financial LLC now owns 7,982 shares of the oil and gas company’s stock worth $1,156,000 after acquiring an additional 2,249 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Chevron by 7.9% in the fourth quarter. FMR LLC now owns 3,866,447 shares of the oil and gas company’s stock valued at $560,016,000 after purchasing an additional 281,784 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CVX. Wells Fargo & Company cut 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. Barclays cut their target price 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. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. UBS Group lowered their target price 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, Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Down 8.3 %

NYSE CVX opened at $143.10 on Monday. The company has a market capitalization of $251.95 billion, a P/E ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s 50 day simple moving average is $157.38 and its 200 day simple moving average is $154.25.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 period last year, the firm earned $3.45 earnings per share. Equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. Chevron’s dividend payout ratio is currently 70.37%.

Insiders Place Their Bets

In related 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 value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.