Capital International Investors grew its stake in shares of Chevron Co. (NYSE:CVX) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,580,587 shares of the oil and gas company’s stock after acquiring an additional 1,429,639 shares during the quarter. Chevron comprises about 1.3% of Capital International Investors’ investment portfolio, making the stock its 13th biggest holding. Capital International Investors’ holdings in Chevron were worth $3,926,286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Alley Co LLC boosted its holdings in shares of Chevron by 1.7% in the fourth quarter. Alley Co LLC now owns 58,092 shares of the oil and gas company’s stock worth $7,001,000 after buying an additional 949 shares during the last quarter. AXA raised its stake in Chevron by 6.3% during the 4th quarter. AXA now owns 661,816 shares of the oil and gas company’s stock worth $79,755,000 after acquiring an additional 39,182 shares during the period. Americana Partners LLC bought a new stake in Chevron during the 4th quarter worth approximately $3,902,000. Keebeck Wealth Management LLC bought a new stake in Chevron during the 4th quarter worth approximately $520,000. Finally, CVA Family Office LLC bought a new stake in Chevron during the 4th quarter worth approximately $432,000. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Michael K. Wirth sold 67,500 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $121.07, for a total value of $8,172,225.00. Following the sale, the chief executive officer now owns 33,750 shares in the company, valued at $4,086,112.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Frank purchased 1,000 shares of Chevron stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $96.59 per share, for a total transaction of $96,590.00. Following the transaction, the director now directly owns 5,114 shares of the company’s stock, valued at approximately $493,961.26. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

A number of equities research analysts have commented on the stock. Citigroup decreased their target price on shares of Chevron from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 4th. Bank of America upgraded shares of Chevron from an “underperform” rating to a “buy” rating in a research note on Monday. Wells Fargo & Co decreased their target price on shares of Chevron from $129.00 to $103.00 and set an “overweight” rating on the stock in a research note on Friday, March 20th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and set a $137.00 target price on the stock in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada restated a “hold” rating on shares of Chevron in a research note on Wednesday, March 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $122.00.

Shares of Chevron stock traded up $5.86 on Thursday, hitting $75.13. 9,004,001 shares of the company traded hands, compared to its average volume of 21,022,450. The stock has a market capitalization of $125.07 billion, a P/E ratio of 49.76, a price-to-earnings-growth ratio of 13.74 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 1.07. Chevron Co. has a 52 week low of $51.60 and a 52 week high of $127.34. The business has a 50-day simple moving average of $93.60 and a 200 day simple moving average of $111.72.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.02. The firm had revenue of $36.35 billion for the quarter, compared to analysts’ expectations of $38.98 billion. Chevron had a net margin of 2.00% and a return on equity of 8.29%. The company’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 earnings per share. Research analysts expect that Chevron Co. will post 0.97 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.16 annualized dividend and a dividend yield of 6.87%. This is a boost from Chevron’s previous quarterly dividend of $1.19. Chevron’s dividend payout ratio (DPR) is presently 82.30%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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