Chevron Co. (NYSE:CVX) Shares Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP boosted its position in shares of Chevron Co. (NYSE:CVX) by 40.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,461 shares of the oil and gas company’s stock after purchasing an additional 20,043 shares during the period. Artemis Investment Management LLP’s holdings in Chevron were worth $10,361,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. B & T Capital Management DBA Alpha Capital Management lifted its holdings in Chevron by 0.3% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 23,151 shares of the oil and gas company’s stock worth $3,453,000 after buying an additional 80 shares during the last quarter. Invera Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter worth $1,151,000. Bill Few Associates Inc. boosted its holdings in shares of Chevron by 2.1% in the 4th quarter. Bill Few Associates Inc. now owns 27,613 shares of the oil and gas company’s stock valued at $4,119,000 after buying an additional 564 shares during the period. ZRC Wealth Management LLC increased its position in Chevron by 61.3% in the fourth quarter. ZRC Wealth Management LLC now owns 1,906 shares of the oil and gas company’s stock worth $284,000 after buying an additional 724 shares during the period. Finally, Thompson Investment Management Inc. increased its holdings in shares of Chevron by 27.8% in the 4th quarter. Thompson Investment Management Inc. now owns 37,615 shares of the oil and gas company’s stock worth $5,611,000 after acquiring an additional 8,173 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX traded down $1.67 during trading hours on Tuesday, reaching $154.80. 1,805,332 shares of the stock were exchanged, compared to its average volume of 8,723,441. The firm has a market capitalization of $287.51 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 2.37 and a beta of 1.12. The stock’s fifty day simple moving average is $150.92 and its 200 day simple moving average is $152.80. 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 Co. has a 52 week low of $139.62 and a 52 week high of $172.88.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the firm earned $4.09 earnings per share. The company’s revenue was down 16.5% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.21%. Chevron’s payout ratio is currently 57.39%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, February 6th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research report on Tuesday, January 16th. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $180.39.

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.