Chevron Co. (NYSE:CVX) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. lessened its position in Chevron Co. (NYSE:CVX) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 863,476 shares of the oil and gas company’s stock after selling 2,336 shares during the period. TD Asset Management Inc.’s holdings in Chevron were worth $125,066,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. United Bank grew its position in Chevron by 8.4% in the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after buying an additional 629 shares in the last quarter. DRW Securities LLC lifted its stake in shares of Chevron by 315.2% in the 3rd quarter. DRW Securities LLC now owns 11,210 shares of the oil and gas company’s stock worth $1,651,000 after acquiring an additional 8,510 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of Chevron by 7.2% in the third quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company’s stock valued at $355,000 after acquiring an additional 163 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Chevron by 13.6% during the third quarter. Brown Brothers Harriman & Co. now owns 54,857 shares of the oil and gas company’s stock valued at $8,079,000 after acquiring an additional 6,558 shares during the period. Finally, Truvestments Capital LLC bought a new stake in Chevron during the third quarter worth approximately $180,000. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVX has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays cut their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Performance

Shares of Chevron stock opened at $165.93 on Wednesday. The stock has a market cap of $292.14 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.82. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $156.67 and a 200-day simple moving average of $153.01.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 period in the previous year, the firm posted $3.45 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. Chevron’s dividend payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

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.