322,000 Shares in Chevron Co. (NYSE:CVX) Purchased by TOMS Capital Investment Management LP

TOMS Capital Investment Management LP acquired a new stake in Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 322,000 shares of the oil and gas company's stock, valued at approximately $46,638,000. Chevron accounts for about 1.7% of TOMS Capital Investment Management LP's portfolio, making the stock its 12th largest holding.

A number of other large investors also recently modified their holdings of the stock. TFB Advisors LLC boosted its position in shares of Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock worth $411,000 after purchasing an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its position in shares of Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock worth $677,000 after purchasing an additional 66 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock worth $2,207,000 after purchasing an additional 66 shares in the last quarter. Meridian Financial Partners LLC raised its stake in Chevron by 0.5% in the 4th quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company's stock worth $1,943,000 after acquiring an additional 67 shares during the last quarter. Finally, Western Pacific Wealth Management LP lifted its position in Chevron by 14.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock worth $75,000 after acquiring an additional 67 shares during the period. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on CVX. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Finally, UBS Group dropped their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of "Hold" and a consensus target price of $165.27.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.17 during midday trading on Thursday, reaching $136.23. 10,185,776 shares of the company's stock traded hands, compared to its average volume of 7,968,885. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a market cap of $239.85 billion, a P/E ratio of 14.02, a PEG 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. The company has a fifty day simple moving average of $150.55 and a two-hundred day simple moving average of $152.70.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business posted $3.45 EPS. Equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 5.02%. This is a positive change from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio (DPR) is presently 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.