Nomura Asset Management Co. Ltd. Has $125.78 Million Stock Position in Chevron Co. (NYSE:CVX)

Nomura Asset Management Co. Ltd. raised its holdings in Chevron Co. (NYSE:CVX) by 4.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 843,275 shares of the oil and gas company’s stock after buying an additional 33,216 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Chevron were worth $125,783,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new position in shares of Chevron during the 3rd quarter worth approximately $26,000. Bare Financial Services Inc bought a new position in Chevron in the 4th quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV raised its position in 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 bought a new position in Chevron in the 4th quarter valued at $33,000. Finally, Roble Belko & Company Inc raised its position in Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’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 transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Up 0.5 %

Shares of CVX traded up $0.77 during trading hours on Friday, hitting $157.71. The stock had a trading volume of 4,476,839 shares, compared to its average volume of 8,141,585. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The firm has a 50 day simple moving average of $160.17 and a 200-day simple moving average of $152.41. The firm has a market capitalization of $290.65 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the firm earned $3.55 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 13.57 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.13%. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

CVX has been the subject of several research reports. Truist Financial lifted their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Mizuho boosted their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Barclays assumed coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Finally, HSBC upped their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.10.

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.