Ameriprise Financial Inc. Purchases 211,023 Shares of Chevron Co. (NYSE:CVX)

Ameriprise Financial Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,718,838 shares of the oil and gas company's stock after acquiring an additional 211,023 shares during the period. Chevron makes up 0.6% of Ameriprise Financial Inc.'s holdings, making the stock its 19th largest position. Ameriprise Financial Inc. owned approximately 0.93% of Chevron worth $2,421,564,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CVX. Life Planning Partners Inc bought a new stake in shares of Chevron in the 4th quarter worth $25,000. IMG Wealth Management Inc. bought a new stake in Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the 4th quarter valued at about $29,000. Fairway Wealth LLC grew its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Finally, Navigoe LLC acquired a new stake in Chevron during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Down 2.2 %

Shares of CVX stock traded down $3.02 on Monday, hitting $135.48. The company's stock had a trading volume of 9,650,547 shares, compared to its average volume of 7,976,070. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $238.53 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm's fifty day moving average price is $149.37 and its 200-day moving average price is $152.46.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.93 earnings per share. Research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.05%. Chevron's dividend payout ratio is presently 78.17%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CVX shares. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $163.75.

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.