Daiwa Securities Group Inc. Buys 12,993 Shares of Chevron Co. (NYSE:CVX)

Daiwa Securities Group Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 236,913 shares of the oil and gas company’s stock after acquiring an additional 12,993 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Chevron were worth $35,338,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its stake in Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after acquiring an additional 24,467,521 shares during the period. Norges Bank bought a new position in shares of Chevron in the 4th quarter worth $3,058,235,000. Imprint Wealth LLC increased its stake in Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after purchasing an additional 5,343,782 shares in the last quarter. Morgan Stanley raised its holdings in Chevron by 12.7% during the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CVX shares. Royal Bank of Canada boosted their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Truist Financial lowered their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Finally, TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.55.

Chevron Trading Up 0.8 %

Shares of CVX opened at $157.69 on Thursday. The stock has a market cap of $292.87 billion, a PE ratio of 13.77, a P/E/G ratio of 2.30 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. The business’s 50-day moving average price is $155.19 and its 200-day moving average price is $151.86. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.09 EPS. On average, equities analysts forecast that Chevron Co. will post 13.56 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.13%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is presently 57.39%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

About Chevron

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.