Vinva Investment Management Ltd Acquires 5,924 Shares of Chevron Co. (NYSE:CVX)

Vinva Investment Management Ltd boosted its position in Chevron Co. (NYSE:CVX) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 86,477 shares of the oil and gas company’s stock after acquiring an additional 5,924 shares during the quarter. Vinva Investment Management Ltd’s holdings in Chevron were worth $12,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. United Bank grew its stake in Chevron by 8.4% in the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after buying an additional 629 shares during the last quarter. Joseph Group Capital Management lifted its holdings in shares of Chevron by 23.2% during the 3rd quarter. Joseph Group Capital Management now owns 16,393 shares of the oil and gas company’s stock worth $2,414,000 after acquiring an additional 3,092 shares during the period. New England Asset Management Inc. lifted its holdings in shares of Chevron by 0.4% during the 3rd quarter. New England Asset Management Inc. now owns 38,685 shares of the oil and gas company’s stock worth $5,697,000 after acquiring an additional 145 shares during the period. Windle Wealth LLC lifted its holdings in shares of Chevron by 12.4% during the 3rd quarter. Windle Wealth LLC now owns 43,928 shares of the oil and gas company’s stock worth $6,469,000 after acquiring an additional 4,851 shares during the period. Finally, Lindenwold Advisors INC lifted its holdings in shares of Chevron by 1.5% during the 3rd quarter. Lindenwold Advisors INC now owns 15,651 shares of the oil and gas company’s stock worth $2,305,000 after acquiring an additional 238 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Up 1.3 %

Shares of NYSE CVX opened at $160.81 on Wednesday. The company has a market capitalization of $283.12 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company’s 50 day moving average price is $155.49 and its 200-day moving average price is $152.23.

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 the consensus estimate 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 prior year, the business posted $3.45 earnings per share. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared 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. This represents a $6.84 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVX. Piper Sandler cut 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. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays lowered their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.