AIA Group Ltd Has $5.12 Million Stock Position in Chevron Co. (NYSE:CVX)

AIA Group Ltd grew its position in Chevron Co. (NYSE:CVX) by 20.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,327 shares of the oil and gas company’s stock after purchasing an additional 6,009 shares during the period. AIA Group Ltd’s holdings in Chevron were worth $5,117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the 3rd quarter valued at $29,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the 4th quarter valued at $29,000. Fairway Wealth LLC boosted its holdings in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter worth $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 0.4 %

Shares of NYSE:CVX opened at $166.06 on Monday. The company’s fifty day moving average is $157.10 and its 200-day moving average is $153.60. 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 $168.96. The company has a market capitalization of $292.37 billion, a PE ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the firm earned $3.45 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. 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 annualized dividend and a yield of 4.12%. Chevron’s dividend payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CVX shares. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. UBS Group dropped their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Finally, Truist Financial dropped their target price 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. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity

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 stock was 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 directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.