Chevron Co. (NYSE:CVX) Shares Bought by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 146.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 555,941 shares of the oil and gas company's stock after purchasing an additional 330,216 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in Chevron were worth $80,522,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CVX. Life Planning Partners Inc purchased a new position in shares of Chevron during the 4th quarter worth about $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the 4th quarter valued at $29,000. Fairway Wealth LLC grew its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Finally, Navigoe LLC purchased a new stake in shares of Chevron during the fourth quarter valued at $33,000. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of CVX stock traded down $0.23 during mid-day trading on Thursday, reaching $135.33. The stock had a trading volume of 8,867,412 shares, compared to its average volume of 8,058,833. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market cap of $236.34 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business's fifty day moving average is $145.61 and its 200-day moving average is $151.50.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 8.71% and a return on equity of 11.44%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.93 earnings per share. On average, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CVX shares. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. HSBC cut Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Piper Sandler decreased their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $160.24.

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.