Chevron Co. (NYSE:CVX) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,363,970 shares of the oil and gas company’s stock after acquiring an additional 169,381 shares during the quarter. Federated Hermes Inc. owned approximately 0.07% of Chevron worth $203,450,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new stake in Chevron during the third quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $33,000. Worth Asset Management LLC acquired a new position in shares of Chevron in the 1st quarter valued at $36,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Chevron Stock Performance

CVX traded up $1.31 on Thursday, hitting $157.71. 1,565,143 shares of the company’s stock were exchanged, compared to its average volume of 8,482,340. The firm has a market cap of $292.91 billion, a PE ratio of 13.89, a P/E/G ratio of 2.30 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. The stock has a fifty day moving average of $155.19 and a two-hundred day moving average of $151.86. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.09 earnings per share. On average, research analysts anticipate that Chevron Co. will post 13.56 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.13%. Chevron’s dividend payout ratio is 57.39%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. UBS Group lifted their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Mizuho lifted their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Royal Bank of Canada lifted their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Wells Fargo & Company lifted their price target on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

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.