Migdal Insurance & Financial Holdings Ltd. Purchases Shares of 2,170 Chevron Co. (NYSE:CVX)

Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,170 shares of the oil and gas company’s stock, valued at approximately $324,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its position in shares of Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the last quarter. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $3,058,235,000. Imprint Wealth LLC lifted its position in shares of Chevron by 15,457.0% in the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after buying an additional 5,343,782 shares during the last quarter. Morgan Stanley lifted its position in shares of Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. Truist Financial cut their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Finally, Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Chevron Trading Up 0.7 %

Shares of CVX opened at $157.49 on Friday. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.38. The business’s fifty day moving average is $155.26 and its 200-day moving average is $151.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a market cap of $292.50 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the company posted $4.09 EPS. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

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.