Chevron Co. (NYSE:CVX) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 18.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 263,872 shares of the oil and gas company’s stock after buying an additional 40,311 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Chevron were worth $38,712,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter valued at $29,000. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the third quarter worth about $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at approximately $39,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Down 0.4 %

NYSE CVX opened at $155.32 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a market capitalization of $279.12 billion, a P/E ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11. The company’s 50 day simple moving average is $151.86 and its 200 day simple moving average is $150.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the firm posted $3.45 earnings per share. Equities research analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.40%. Chevron’s dividend payout ratio (DPR) is 67.08%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on 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 owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company 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.