Chevron Co. (NYSE:CVX) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its position in shares of Chevron Co. (NYSE:CVX) by 49.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,856 shares of the oil and gas company’s stock after acquiring an additional 26,999 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Chevron were worth $11,856,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Nicholas Company Inc. lifted its holdings in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after acquiring an additional 3,280 shares during the period. Dale Q Rice Investment Management Ltd purchased a new stake in shares of Chevron during the 4th quarter worth $594,000. Unified Investment Management acquired a new position in shares of Chevron during the 4th quarter worth $729,000. Finally, ING Groep NV increased its holdings in shares of Chevron by 3,942.6% in the 4th quarter. ING Groep NV now owns 200,998 shares of the oil and gas company’s stock valued at $29,113,000 after purchasing an additional 196,026 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $166.06 on Friday. The company has a 50-day simple moving average of $157.10 and a 200-day simple moving average of $153.38. 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 has a market cap of $292.37 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 quarter in the previous year, the firm earned $3.45 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.12%. Chevron’s dividend payout ratio is 70.37%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

About Chevron

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.