one8zero8 LLC Invests $1.95 Million in Chevron Co. (NYSE:CVX)

one8zero8 LLC bought a new position in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,466 shares of the oil and gas company’s stock, valued at approximately $1,950,000.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after purchasing an additional 746,806 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after purchasing an additional 410,460 shares during the period. Franklin Resources Inc. increased its stake in Chevron by 3.4% in the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after acquiring an additional 573,218 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVX shares. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company decreased their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. UBS Group decreased their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

Shares of NYSE:CVX opened at $157.10 on Friday. The firm has a market cap of $276.59 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The firm’s fifty day moving average is $155.03 and its 200-day moving average is $152.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $3.45 EPS. Sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Insider Transactions at Chevron

In related 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 value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

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.