AHL Investment Management Inc. Purchases 878 Shares of Chevron Co. (NYSE:CVX)

AHL Investment Management Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,807 shares of the oil and gas company’s stock after purchasing an additional 878 shares during the period. Chevron comprises approximately 1.8% of AHL Investment Management Inc.’s investment portfolio, making the stock its 22nd biggest position. AHL Investment Management Inc.’s holdings in Chevron were worth $2,336,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CVX. Norges Bank acquired a new position in Chevron during the 4th quarter worth approximately $2,902,007,000. Berkshire Hathaway Inc increased its holdings in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares in the last quarter. Capital World Investors lifted its stake in shares of Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after acquiring an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Chevron by 73,888.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after acquiring an additional 4,596,584 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after purchasing an additional 3,181,946 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 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 directly owns 276 shares in the company, valued at $44,184.84. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock worth $3,176,223 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. UBS Group upped their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Raymond James boosted their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, HSBC raised their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $186.95.

Chevron Stock Performance

NYSE:CVX opened at $156.36 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a fifty day moving average of $159.32 and a 200-day moving average of $154.52. The firm has a market capitalization of $288.17 billion, a P/E ratio of 14.38, a P/E/G ratio of 2.37 and a beta of 1.12.

Chevron (NYSE:CVX) last posted 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. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.55 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s payout ratio is currently 59.98%.

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.