Federated Hermes Inc. Buys 169,381 Shares of Chevron Co. (NYSE:CVX)

Federated Hermes Inc. boosted its holdings in Chevron Co. (NYSE:CVX) by 14.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,363,970 shares of the oil and gas company’s stock after buying an additional 169,381 shares during the period. Federated Hermes Inc.’s holdings in Chevron were worth $203,450,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Sweet Financial Partners LLC raised its holdings in Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after buying an additional 65 shares during the last quarter. Strategic Investment Advisors MI increased its position in Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 65 shares during the period. NCM Capital Management LLC increased its position in Chevron by 1.2% during the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after purchasing an additional 65 shares during the period. Alera Investment Advisors LLC increased its position in Chevron by 1.0% during the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after purchasing an additional 67 shares during the period. Finally, Global Trust Asset Management LLC increased its position in Chevron by 1.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 67 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Monday, January 8th. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Chevron Stock Up 0.8 %

NYSE CVX traded up $1.31 during mid-day trading on Thursday, hitting $157.71. The company’s stock had a trading volume of 1,565,143 shares, compared to its average volume of 8,482,340. The company’s 50 day simple moving average is $155.19 and its 200 day simple moving average is $151.86. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $292.91 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.30 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the firm posted $4.09 EPS. Chevron’s revenue was down 16.5% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 13.56 earnings per share for the current year.

Chevron Increases Dividend

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

Chevron Company 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.