IFM Investors Pty Ltd increased its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 21.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,910 shares of the oil and gas company’s stock after acquiring an additional 54,883 shares during the period. Chevron makes up 0.8% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 17th largest holding. IFM Investors Pty Ltd’s holdings in Chevron were worth $49,811,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Qube Research & Technologies Ltd lifted its stake in shares of Chevron by 123.3% in the fourth quarter. Qube Research & Technologies Ltd now owns 135,720 shares of the oil and gas company’s stock worth $15,927,000 after buying an additional 74,933 shares in the last quarter. Astrantus Ltd bought a new position in shares of Chevron in the fourth quarter worth approximately $287,000. Merriman Wealth Management LLC lifted its stake in shares of Chevron by 11.9% in the fourth quarter. Merriman Wealth Management LLC now owns 5,852 shares of the oil and gas company’s stock worth $687,000 after buying an additional 624 shares in the last quarter. AGF Investments LLC lifted its stake in shares of Chevron by 58.9% in the fourth quarter. AGF Investments LLC now owns 2,957 shares of the oil and gas company’s stock worth $347,000 after buying an additional 1,096 shares in the last quarter. Finally, Goodman Financial Corp lifted its stake in shares of Chevron by 1.4% in the fourth quarter. Goodman Financial Corp now owns 83,108 shares of the oil and gas company’s stock worth $9,753,000 after buying an additional 1,173 shares in the last quarter. Institutional investors own 65.89% of the company’s stock.
Insider Buying and Selling
In related news, EVP Mark A. Nelson sold 117,400 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the completion of the transaction, the executive vice president now owns 788 shares in the company, valued at $125,662.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chevron news, VP R. Hewitt Pate sold 91,300 shares of the stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $172.34, for a total transaction of $15,734,642.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark A. Nelson sold 117,400 shares of the stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the transaction, the executive vice president now owns 788 shares of the company’s stock, valued at approximately $125,662.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 439,021 shares of company stock worth $73,765,625. 0.32% of the stock is owned by insiders.
Chevron Stock Performance
Chevron (NYSE:CVX – Get Rating) last issued its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 20.19%. The firm had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. During the same quarter in the prior year, the business earned $1.71 earnings per share. Chevron’s revenue for the quarter was up 82.9% on a year-over-year basis. Equities analysts anticipate that Chevron Co. will post 18.28 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, August 19th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.66%. Chevron’s dividend payout ratio is 37.89%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on CVX shares. Piper Sandler dropped their target price on shares of Chevron from $213.00 to $189.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Societe Generale cut shares of Chevron from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a report on Friday, May 20th. Barclays boosted their price objective on shares of Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a report on Tuesday, May 31st. Bank of America boosted their price objective on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a report on Monday. Finally, Morgan Stanley boosted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “equal weight” rating in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $172.50.
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
- Get a free copy of the StockNews.com research report on Chevron (CVX)
- Is it Time to Tap Molson Coors or Will Beer Sales Turn Flat?
- There Are Different Types of Stock To Invest In
- Is Starbucks Shooting For The Moon?
- PayPal Continues To Struggle As Competition Increases
- Two High-Yield Deep-Values You Shouldn’t Ignore
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.