Susquehanna Fundamental Investments LLC Buys New Position in Chevron Co. (NYSE:CVX)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 117,063 shares of the oil and gas company's stock, valued at approximately $16,955,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Norges Bank acquired a new stake in Chevron in the fourth quarter valued at $3,017,750,000. Raymond James Financial Inc. acquired a new position in shares of Chevron in the fourth quarter valued at approximately $1,036,302,000. Bank of New York Mellon Corp increased its position in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the period. Amundi increased its position in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after acquiring an additional 1,910,262 shares during the period. Finally, Capital World Investors raised its stake in Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The shares were 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. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on CVX shares. Wells Fargo & Company decreased their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Chevron has an average rating of "Hold" and an average price target of $166.06.

Chevron Trading Down 3.2 %

Shares of CVX stock traded down $4.47 during trading hours on Wednesday, hitting $134.83. 6,065,257 shares of the company were exchanged, compared to its average volume of 7,931,618. The company has a 50 day simple moving average of $150.96 and a two-hundred day simple moving average of $152.82. The firm has a market cap of $237.38 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts' consensus estimates 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 last year, the firm earned $3.45 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio is 70.37%.

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.