AIA Group Ltd Sells 3,346 Shares of Chevron Co. (NYSE:CVX)

AIA Group Ltd decreased its position in Chevron Co. (NYSE:CVX) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,901 shares of the oil and gas company’s stock after selling 3,346 shares during the period. AIA Group Ltd’s holdings in Chevron were worth $2,521,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Integral Investment Advisors Inc. lifted its stake in Chevron by 34.1% during the 4th quarter. Integral Investment Advisors Inc. now owns 7,012 shares of the oil and gas company’s stock valued at $1,046,000 after acquiring an additional 1,782 shares during the period. SFE Investment Counsel lifted its stake in Chevron by 432.1% during the 4th quarter. SFE Investment Counsel now owns 14,192 shares of the oil and gas company’s stock valued at $2,117,000 after acquiring an additional 11,525 shares during the period. Cambridge Trust Co. lifted its stake in Chevron by 0.3% during the 4th quarter. Cambridge Trust Co. now owns 116,207 shares of the oil and gas company’s stock valued at $17,333,000 after acquiring an additional 388 shares during the period. CapWealth Advisors LLC increased its position in shares of Chevron by 3.9% during the 4th quarter. CapWealth Advisors LLC now owns 178,296 shares of the oil and gas company’s stock valued at $26,595,000 after purchasing an additional 6,736 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Chevron by 14.2% in the 4th quarter. Federated Hermes Inc. now owns 1,363,970 shares of the oil and gas company’s stock worth $203,450,000 after purchasing an additional 169,381 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Monday, January 8th. Raymond James upped their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Truist Financial decreased their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Finally, Piper Sandler lifted their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Trading Up 0.3 %

Shares of Chevron stock opened at $158.07 on Friday. The firm has a market cap of $293.58 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.36 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $155.26 and a 200-day moving average price of $151.90.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the business posted $4.09 earnings per share. Equities research analysts anticipate that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.12%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

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.