Dimensional Fund Advisors LP Boosts Holdings in Chevron Co. (NYSE:CVX)

Dimensional Fund Advisors LP grew its position in shares of Chevron Co. (NYSE:CVX) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,241,225 shares of the oil and gas company’s stock after purchasing an additional 63,545 shares during the quarter. Chevron makes up about 0.4% of Dimensional Fund Advisors LP’s holdings, making the stock its 20th largest position. Dimensional Fund Advisors LP’s holdings in Chevron were worth $1,772,868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. purchased a new position in shares of Chevron in the fourth quarter valued at $1,036,302,000. Bank of New York Mellon Corp raised its stake in shares of Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the last quarter. Amundi boosted its position in shares of Chevron by 27.7% in the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after buying an additional 1,910,262 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Chevron by 6.9% in the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company’s stock valued at $2,176,579,000 after acquiring an additional 964,426 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Truist Financial cut 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. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday. Finally, Wells Fargo & Company lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Chevron Price Performance

CVX opened at $137.68 on Friday. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market cap of $242.39 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93. The company has a fifty day simple moving average of $153.54 and a 200 day simple moving average of $153.42.

Chevron (NYSE:CVX) last issued its quarterly 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 quarter in the prior year, the business posted $3.45 earnings per share. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.97%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.