Tobam Has $29,000 Holdings in Chevron Co. (NYSE:CVX)

Tobam lowered its position in shares of Chevron Co. (NYSE:CVX) by 46.0% during the fourth quarter, Holdings Channel reports. The fund owned 195 shares of the oil and gas company’s stock after selling 166 shares during the quarter. Tobam’s holdings in Chevron were worth $29,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVX. Vanguard Group Inc. increased its stake in Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after buying an additional 458,080 shares during the period. Morgan Stanley boosted its holdings in shares of Chevron by 7.0% during the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in shares of Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after buying an additional 24,467,521 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after buying an additional 368,898 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after buying an additional 569,850 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on CVX shares. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Piper Sandler dropped their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Barclays started coverage on shares of Chevron in a research report on Wednesday. They set an “overweight” rating and a $203.00 target price for the company. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research report on Tuesday, February 6th. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a research report on Thursday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $183.60.

Chevron Stock Down 1.8 %

Shares of NYSE CVX opened at $158.96 on Friday. The firm has a market capitalization of $295.23 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88. The firm’s 50-day moving average is $154.92 and its 200-day moving average is $152.25.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the firm earned $4.09 EPS. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 13.24 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.10%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

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.