Chevron Co. (NYSE:CVX) Shares Purchased by Aviva PLC

Aviva PLC raised its position in Chevron Co. (NYSE:CVX – Get Rating) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 465,208 shares of the oil and gas company’s stock after purchasing an additional 8,864 shares during the quarter. Aviva PLC’s holdings in Chevron were worth $25,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP purchased a new stake in Chevron in the fourth quarter valued at approximately $37,000. Red Tortoise LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $37,000. Worth Asset Management LLC purchased a new stake in shares of Chevron during the first quarter worth $36,000. JDM Financial Group LLC purchased a new stake in shares of Chevron during the fourth quarter worth $42,000. Finally, Luken Investment Analytics LLC purchased a new stake in shares of Chevron during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 69.37% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $157.27 on Thursday. The firm’s fifty day moving average price is $162.22 and its 200 day moving average price is $169.79. The company has a market capitalization of $297.97 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.77 and a beta of 1.16. Chevron Co. has a 12-month low of $132.54 and a 12-month high of $189.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.16.

Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.14. The company had revenue of $50.79 billion during the quarter, compared to the consensus estimate of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.36 EPS. On average, research analysts forecast that Chevron Co. will post 14.23 EPS for the current fiscal year.

Chevron announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 25th that allows the company to buyback $75.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 21.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Friday, May 19th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Thursday, May 18th. Chevron’s payout ratio is currently 32.61%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $195.00 to $200.00 in a research note on Thursday, April 13th. StockNews.com started coverage on shares of Chevron in a research note on Thursday, May 18th. They issued a “hold” rating for the company. BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price for the company in a research note on Tuesday, April 4th. Truist Financial decreased their target price on shares of Chevron from $193.00 to $190.00 in a research note on Monday, May 1st. Finally, HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 target price for the company in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $194.12.

About Chevron

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.