Van Lanschot Kempen Investment Management N.V. Takes $17.55 Million Position in Chevron Co. (NYSE:CVX)

Van Lanschot Kempen Investment Management N.V. purchased a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 121,198 shares of the oil and gas company’s stock, valued at approximately $17,554,000.

Other large investors have also bought and sold shares of the company. Life Planning Partners Inc bought a new position in Chevron during the fourth quarter valued at about $25,000. IMG Wealth Management Inc. bought a new position in shares of Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter worth approximately $29,000. Fairway Wealth LLC lifted its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in Chevron during the fourth quarter valued at $39,000. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group reduced their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.

Chevron Stock Down 3.0 %

NYSE CVX opened at $133.75 on Tuesday. The business’s 50-day moving average is $153.12 and its 200 day moving average is $153.33. The stock has a market capitalization of $235.48 billion, a PE ratio of 13.76, a PEG ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96.

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

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 5.11%. Chevron’s dividend payout ratio is 70.37%.

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.