Global X Japan Co. Ltd. Boosts Holdings in Chevron Co. (NYSE:CVX)

Global X Japan Co. Ltd. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 27.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,458 shares of the oil and gas company’s stock after acquiring an additional 737 shares during the period. Global X Japan Co. Ltd.’s holdings in Chevron were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new position in Chevron in the 3rd quarter worth $29,000. Rational Advisors LLC bought a new position in shares of Chevron in the third quarter worth about $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the 3rd quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron during the 4th quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.7 %

Shares of CVX opened at $151.86 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. 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 company’s fifty day moving average is $152.60 and its 200 day moving average is $150.90. The stock has a market capitalization of $272.90 billion, a PE ratio of 15.62, a P/E/G ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 quarter in the previous year, the firm earned $3.45 EPS. Sell-side analysts expect that Chevron Co. will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.50%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

Wall Street Analyst Weigh In

CVX has been the topic of several analyst reports. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

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.