Machina Capital S.A.S. Buys Shares of 7,477 Chevron Co. (NYSE:CVX)

Machina Capital S.A.S. purchased a new position in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,477 shares of the oil and gas company’s stock, valued at approximately $1,083,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after purchasing an additional 746,806 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after purchasing an additional 410,460 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Chevron by 3.4% during the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after purchasing an additional 573,218 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’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 completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CVX shares. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. UBS Group lowered their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Finally, Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Up 2.3 %

Shares of CVX opened at $156.48 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock’s 50-day moving average is $154.08 and its two-hundred day moving average is $151.69. 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 stock has a market cap of $275.51 billion, a PE ratio of 16.10, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly 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 period last year, the business earned $3.45 EPS. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date is 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 dividend yield of 4.37%. Chevron’s dividend payout ratio is 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.