Searle & CO. Purchases 8,238 Shares of Chevron Co. (NYSE:CVX)

Searle & CO. increased its position in Chevron Co. (NYSE:CVX) by 98.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,639 shares of the oil and gas company’s stock after buying an additional 8,238 shares during the quarter. Searle & CO.’s holdings in Chevron were worth $2,482,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CVX. Vanguard Group Inc. lifted its stake in Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after purchasing an additional 458,080 shares in the last quarter. Morgan Stanley increased its holdings in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after buying an additional 368,898 shares in the last quarter. Northern Trust Corp grew its holdings in Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after buying an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Chevron by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after buying an additional 62,254 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CVX shares. Wells Fargo & Company boosted their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Piper Sandler lifted their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. TD Cowen upped their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday. Finally, DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Stock Down 1.0 %

NYSE CVX traded down $1.64 on Wednesday, reaching $159.63. 7,712,057 shares of the stock traded hands, compared to its average volume of 8,445,480. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a market cap of $296.48 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.43 and a beta of 1.12. The company has a fifty day moving average price of $156.96 and a 200-day moving average price of $151.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the previous year, the company posted $3.55 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 13.71 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. Chevron’s dividend payout ratio is presently 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

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.