Advisory Research Inc. Purchases 142 Shares of Chevron Co. (NYSE:CVX)

Advisory Research Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,923 shares of the oil and gas company’s stock after purchasing an additional 142 shares during the period. Advisory Research Inc.’s holdings in Chevron were worth $1,437,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CVX. Geode Capital Management LLC grew its stake in shares of Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after acquiring an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after buying an additional 746,806 shares during the last quarter. Norges Bank purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $3,017,750,000. Fisher Asset Management LLC increased its position in shares of Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after acquiring an additional 410,460 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Chevron by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company’s stock valued at $2,502,850,000 after acquiring an additional 79,917 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CVX shares. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. Barclays cut their target price on shares of 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 lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.50.

Chevron Stock Up 0.6 %

CVX opened at $135.41 on Thursday. The stock has a market cap of $238.40 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s fifty day moving average is $154.30 and its 200 day moving average is $153.56. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the company earned $3.45 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Chevron Company 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.