Chevron Co. (NYSE:CVX) Shares Bought by Calamos Wealth Management LLC

Calamos Wealth Management LLC raised its position in Chevron Co. (NYSE:CVX) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,234 shares of the oil and gas company’s stock after acquiring an additional 120 shares during the quarter. Calamos Wealth Management LLC’s holdings in Chevron were worth $903,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CVX. State Street Corp boosted its holdings 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 worth $23,431,429,000 after purchasing an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Chevron by 3.6% during the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after acquiring an additional 672,244 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Chevron by 3.4% during the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after acquiring an additional 573,218 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Chevron by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after acquiring an additional 138,496 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on 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 transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.60.

Chevron Stock Up 0.1 %

Shares of NYSE CVX opened at $149.39 on Tuesday. The company has a 50 day simple moving average of $153.19 and a 200 day simple moving average of $151.02. The firm has a market cap of $268.46 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. 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 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the business posted $3.45 EPS. On average, research analysts forecast that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.58%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is presently 67.08%.

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.