Toronto Dominion Bank Boosts Stake in Chevron Co. (NYSE:CVX)

Toronto Dominion Bank grew its stake in Chevron Co. (NYSE:CVX - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 791,870 shares of the oil and gas company's stock after buying an additional 86,719 shares during the quarter. Toronto Dominion Bank's holdings in Chevron were worth $114,694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Safeguard Investment Advisory Group LLC increased its stake in Chevron by 3.6% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,485 shares of the oil and gas company's stock worth $794,000 after buying an additional 193 shares in the last quarter. Scissortail Wealth Management LLC increased its stake in Chevron by 23,923.8% during the fourth quarter. Scissortail Wealth Management LLC now owns 5,045 shares of the oil and gas company's stock worth $731,000 after acquiring an additional 5,024 shares during the last quarter. SGL Investment Advisors Inc. increased its stake in Chevron by 1.5% during the fourth quarter. SGL Investment Advisors Inc. now owns 33,721 shares of the oil and gas company's stock worth $5,223,000 after acquiring an additional 492 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of Chevron during the fourth quarter worth $389,000. Finally, Raiffeisen Bank International AG purchased a new position in Chevron in the fourth quarter valued at $258,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CVX shares. Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company cut their target price on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Redburn Atlantic restated a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. HSBC lowered Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Trading Down 0.2%

CVX traded down $0.22 during trading on Friday, hitting $142.04. The company's stock had a trading volume of 8,191,570 shares, compared to its average volume of 8,033,326. The firm's 50 day moving average price is $146.65 and its 200-day moving average price is $151.81. 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 cap of $248.06 billion, a PE ratio of 14.61, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS 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 the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.93 EPS. On average, analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.82%. Chevron's dividend payout ratio is currently 78.17%.

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.