Spectrum Asset Management Inc. NB CA Has $4.76 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Spectrum Asset Management Inc. NB CA grew its stake in Chevron Co. (NYSE:CVX) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,861 shares of the oil and gas company’s stock after purchasing an additional 229 shares during the quarter. Chevron comprises approximately 2.1% of Spectrum Asset Management Inc. NB CA’s holdings, making the stock its 14th largest holding. Spectrum Asset Management Inc. NB CA’s holdings in Chevron were worth $4,760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Marietta Wealth Management LLC lifted its holdings in Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares in the last quarter. Leo Wealth LLC lifted its holdings in shares of Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after purchasing an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. RPG Investment Advisory LLC raised its holdings in Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after buying an additional 3,933 shares during the period. Finally, State Street Corp lifted its stake in Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several research reports. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday. Raymond James cut their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Down 0.7 %

Chevron stock 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 firm 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. The company’s 50-day moving average is $152.60 and its 200-day moving average is $150.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the firm earned $3.45 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 11.45 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is currently 67.08%.

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.