Rathbones Group PLC Grows Position in Chevron Co. (NYSE:CVX)

Rathbones Group PLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 31.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 695,247 shares of the oil and gas company’s stock after acquiring an additional 165,922 shares during the period. Rathbones Group PLC’s holdings in Chevron were worth $100,700,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Twin Capital Management Inc. lifted its stake in shares of Chevron by 4.0% during the fourth quarter. Twin Capital Management Inc. now owns 39,424 shares of the oil and gas company’s stock valued at $5,710,000 after buying an additional 1,530 shares during the period. Invesco Ltd. lifted its position in Chevron by 6.9% during the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company’s stock worth $2,176,579,000 after buying an additional 964,426 shares during the period. Cerity Partners LLC increased its stake in shares of Chevron by 4.5% during the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock valued at $174,817,000 after acquiring an additional 52,307 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of Chevron by 4.3% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 3,022 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 125 shares during the last quarter. Finally, Trek Financial LLC increased its position in Chevron by 39.2% during the fourth quarter. Trek Financial LLC now owns 7,982 shares of the oil and gas company’s stock worth $1,156,000 after purchasing an additional 2,249 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of NYSE CVX opened at $143.10 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $168.96. The company has a market cap of $251.95 billion, a PE ratio of 14.72, a P/E/G ratio of 1.46 and a beta of 0.93. The stock has a 50 day simple moving average of $157.38 and a 200-day simple moving average of $154.25. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business posted $3.45 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 10.79 EPS 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 issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Piper Sandler reduced their price objective 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 dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.13.

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.