Fisher Asset Management LLC Purchases 410,460 Shares of Chevron Co. (NYSE:CVX)

Fisher Asset Management LLC boosted its position in Chevron Co. (NYSE:CVX) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,892,848 shares of the oil and gas company’s stock after purchasing an additional 410,460 shares during the period. Chevron makes up approximately 1.1% of Fisher Asset Management LLC’s investment portfolio, making the stock its 24th biggest holding. Fisher Asset Management LLC’s holdings in Chevron were worth $2,881,280,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Rational Advisors LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $31,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Truist Financial cut their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Barclays cut their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

NYSE CVX opened at $158.59 on Friday. The firm’s fifty day simple moving average is $153.14 and its two-hundred day simple moving average is $151.44. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market capitalization of $285.00 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the business earned $3.45 earnings per share. Analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s payout ratio is 70.37%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.