Chevron Co. (NYSE:CVX) Position Increased by Sei Investments Co.

Sei Investments Co. raised its position in shares of Chevron Co. (NYSE:CVX) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 646,755 shares of the oil and gas company’s stock after purchasing an additional 14,427 shares during the quarter. Sei Investments Co.’s holdings in Chevron were worth $93,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp boosted its stake in shares of Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares during the period. Nicholas Company Inc. lifted its holdings in shares of Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after buying an additional 3,280 shares during the last quarter. Dale Q Rice Investment Management Ltd bought a new stake in shares of Chevron in the 4th quarter valued at approximately $594,000. Unified Investment Management acquired a new position in Chevron in the fourth quarter worth approximately $729,000. Finally, Capital Investment Counsel LLC raised its position in Chevron by 4.5% during the third quarter. Capital Investment Counsel LLC now owns 74,508 shares of the oil and gas company’s stock valued at $10,973,000 after acquiring an additional 3,177 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVX. Wells Fargo & Company dropped their price target 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 reduced their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Down 0.2 %

Shares of CVX opened at $164.37 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $156.29 and a two-hundred day moving average price of $152.57. The stock has a market cap of $289.39 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 period in the prior year, the company posted $3.45 EPS. Equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated 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 directly 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 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.