Charles Schwab Investment Management Inc. Has $3.89 Billion Stock Position in Chevron Co. (NYSE:CVX)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,235,473 shares of the oil and gas company’s stock after acquiring an additional 1,999,332 shares during the period. Chevron makes up approximately 1.0% of Charles Schwab Investment Management Inc.’s investment portfolio, making the stock its 11th largest holding. Charles Schwab Investment Management Inc. owned 1.39% of Chevron worth $3,886,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC lifted its stake in Chevron by 5.9% in the 4th quarter. Aviance Capital Partners LLC now owns 5,165 shares of the oil and gas company’s stock valued at $770,000 after acquiring an additional 289 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Chevron during the 4th quarter worth approximately $272,000. Apollon Wealth Management LLC boosted its stake in Chevron by 33.4% in the 4th quarter. Apollon Wealth Management LLC now owns 64,554 shares of the oil and gas company’s stock valued at $9,629,000 after purchasing an additional 16,180 shares during the period. Lincoln National Corp lifted its holdings in shares of Chevron by 4.3% during the fourth quarter. Lincoln National Corp now owns 82,986 shares of the oil and gas company’s stock worth $12,378,000 after buying an additional 3,457 shares in the last quarter. Finally, Fielder Capital Group LLC acquired a new position in shares of Chevron in the fourth quarter valued at about $2,585,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The disclosure for this sale can be found here. Insiders sold a total of 13,247 shares of company stock worth $2,154,164 in the last quarter. 0.20% of the stock is owned by company insiders.

Chevron Stock Performance

NYSE:CVX traded down $0.26 during trading on Wednesday, reaching $162.41. The company’s stock had a trading volume of 3,135,149 shares, compared to its average volume of 8,404,722. The firm has a market cap of $299.97 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm has a 50 day moving average of $157.62 and a 200-day moving average of $151.45.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.55 earnings per share. Research analysts expect that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.01%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVX. HSBC lifted their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Piper Sandler upped their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $185.35.

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.