The Manufacturers Life Insurance Company Grows Holdings in Chevron Co. (NYSE:CVX)

The Manufacturers Life Insurance Company raised its holdings in Chevron Co. (NYSE:CVX - Free Report) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,314,491 shares of the oil and gas company's stock after buying an additional 30,906 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Chevron worth $190,391,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CVX. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter worth about $25,000. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC boosted its position 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 valued at $30,000 after purchasing an additional 88 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

CVX has been the topic of a number of research reports. Royal Bank of Canada restated an "outperform" rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Wells Fargo & Company decreased their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $165.27.

Chevron Price Performance

Shares of CVX stock traded up $2.27 during mid-day trading on Friday, reaching $138.53. The stock had a trading volume of 12,384,197 shares, compared to its average volume of 7,986,484. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. 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 has a 50-day simple moving average of $150.11 and a 200 day simple moving average of $152.59. The company has a market cap of $243.90 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business 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 company's revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $2.93 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm 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 annualized dividend and a yield of 4.94%. Chevron's dividend payout ratio (DPR) is 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction dated 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 transaction, the vice president now 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company's stock.

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.