AIA Group Ltd Boosts Holdings in Chevron Co. (NYSE:CVX)

AIA Group Ltd increased its holdings in Chevron Co. (NYSE:CVXGet Rating) by 63.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,460 shares of the oil and gas company’s stock after purchasing an additional 566 shares during the period. AIA Group Ltd’s holdings in Chevron were worth $238,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd increased its stake in Chevron by 123.3% in the 4th quarter. Qube Research & Technologies Ltd now owns 135,720 shares of the oil and gas company’s stock worth $15,927,000 after acquiring an additional 74,933 shares during the last quarter. AGF Investments LLC increased its position in shares of Chevron by 58.9% during the 4th quarter. AGF Investments LLC now owns 2,957 shares of the oil and gas company’s stock valued at $347,000 after purchasing an additional 1,096 shares during the last quarter. Pinnacle Associates Ltd. increased its position in shares of Chevron by 11.0% during the 4th quarter. Pinnacle Associates Ltd. now owns 130,640 shares of the oil and gas company’s stock valued at $15,331,000 after purchasing an additional 12,923 shares during the last quarter. Valmark Advisers Inc. increased its position in shares of Chevron by 22.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,195 shares of the oil and gas company’s stock valued at $1,079,000 after purchasing an additional 1,689 shares during the last quarter. Finally, TrueWealth Advisors LLC increased its position in shares of Chevron by 7.4% during the 4th quarter. TrueWealth Advisors LLC now owns 7,597 shares of the oil and gas company’s stock valued at $892,000 after purchasing an additional 526 shares during the last quarter. 65.89% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 1.7 %

Shares of NYSE CVX opened at $153.64 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The stock has a market capitalization of $301.87 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $182.40. The business has a fifty day moving average price of $154.37 and a 200 day moving average price of $155.35.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. The firm had revenue of $68.76 billion during the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The firm’s quarterly revenue was up 82.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.71 EPS. Equities research analysts expect that Chevron Co. will post 17.51 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, August 19th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is currently 37.89%.

Insider Buying and Selling

In related news, insider David A. Inchausti sold 5,600 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total transaction of $923,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chevron news, insider David A. Inchausti sold 5,600 shares of the stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total value of $923,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark A. Nelson sold 117,400 shares of the stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the sale, the executive vice president now owns 788 shares of the company’s stock, valued at $125,662.36. The disclosure for this sale can be found here. Insiders sold 399,043 shares of company stock worth $67,010,843 in the last three months. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVX shares. Morgan Stanley boosted their target price on Chevron from $185.00 to $190.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 19th. Barclays boosted their target price on Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a research report on Tuesday, May 31st. Royal Bank of Canada downgraded Chevron from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $160.00 to $165.00 in a research report on Thursday, April 21st. Piper Sandler cut their price objective on Chevron from $213.00 to $189.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. Finally, Truist Financial cut their price objective on Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.00.

Chevron Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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