Y Intercept Hong Kong Ltd Acquires 33,541 Shares of Chevron Co. (NYSE:CVX)

Y Intercept Hong Kong Ltd grew its holdings in shares of Chevron Co. (NYSE:CVX) by 214.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,173 shares of the oil and gas company’s stock after purchasing an additional 33,541 shares during the quarter. Chevron comprises about 0.5% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 19th biggest position. Y Intercept Hong Kong Ltd’s holdings in Chevron were worth $7,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings 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 valued at $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after acquiring an additional 672,244 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Chevron by 3.4% in the 3rd 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Chevron by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock worth $1,147,359,000 after purchasing an additional 138,496 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $156.92 on Monday. The stock’s 50 day simple moving average is $151.97 and its 200-day simple moving average is $151.11. 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 stock has a market cap of $282.00 billion, a PE ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last announced 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 quarter in the prior year, the business posted $3.45 earnings per share. Sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm 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 represents a $6.84 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron 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 report on Monday, February 3rd. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

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

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.