Strategic Investment Advisors MI Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Strategic Investment Advisors MI grew its holdings in Chevron Co. (NYSE:CVX) by 7.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,533 shares of the oil and gas company’s stock after buying an additional 109 shares during the period. Strategic Investment Advisors MI’s holdings in Chevron were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after buying an additional 3,876,731 shares during the period. Pacer Advisors Inc. raised its holdings in Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after buying an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. Finally, State Street Corp increased its position in 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 valued at $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of NYSE:CVX opened at $157.20 on Tuesday. The firm has a 50 day moving average of $153.81 and a 200 day moving average of $151.11. 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 market capitalization of $282.50 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. 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 data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the business posted $3.05 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVX. UBS Group raised their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

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.