Y.D. More Investments Ltd Increases Position in Chevron Co. (NYSE:CVX)

Y.D. More Investments Ltd lifted its holdings in Chevron Co. (NYSE:CVX) by 3.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,818 shares of the oil and gas company’s stock after purchasing an additional 747 shares during the period. Y.D. More Investments Ltd’s holdings in Chevron were worth $2,868,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Weaver Capital Management LLC acquired a new position in Chevron during the 4th quarter worth $201,000. Hager Investment Management Services LLC purchased a new position in shares of Chevron during the fourth quarter worth about $453,000. Alexander Labrunerie & CO. Inc. increased its position in shares of Chevron by 0.6% during the fourth quarter. Alexander Labrunerie & CO. Inc. now owns 15,169 shares of the oil and gas company’s stock worth $2,197,000 after purchasing an additional 87 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Chevron by 7.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 75,717 shares of the oil and gas company’s stock valued at $10,967,000 after purchasing an additional 4,949 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Chevron by 5.3% in the 4th quarter. Retirement Systems of Alabama now owns 885,112 shares of the oil and gas company’s stock valued at $128,200,000 after purchasing an additional 44,639 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Trading Up 2.5 %

Shares of NYSE:CVX opened at $153.14 on Wednesday. The firm has a market capitalization of $275.20 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. 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 firm has a fifty day moving average of $152.97 and a two-hundred day moving average of $150.93.

Chevron (NYSE:CVX) last posted its earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the business earned $3.45 earnings per share. On average, equities analysts expect that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.47%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is currently 67.08%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.33.

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.