Headinvest LLC Acquires 1,581 Shares of Chevron Co. (NYSE:CVX)

Headinvest LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,731 shares of the oil and gas company’s stock after acquiring an additional 1,581 shares during the period. Headinvest LLC’s holdings in Chevron were worth $4,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CVX. State Street Corp grew its position in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. Fisher Asset Management LLC grew its holdings in Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after buying an additional 672,244 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after acquiring an additional 629,644 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

Chevron Stock Down 2.6 %

Shares of CVX opened at $155.24 on Friday. The stock has a market capitalization of $278.98 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 3.50 and a beta of 1.10. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a fifty day moving average of $154.77 and a 200-day moving average of $152.45.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the business posted $3.05 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVX shares. Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. UBS Group increased their price objective on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Truist Financial boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $175.94.

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.