Chevron Co. (NYSE:CVX) Shares Purchased by Martingale Asset Management L P

Martingale Asset Management L P increased its stake in shares of Chevron Co. (NYSE:CVX) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,259 shares of the oil and gas company’s stock after acquiring an additional 4,924 shares during the period. Martingale Asset Management L P’s holdings in Chevron were worth $26,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Peterson Wealth Management grew its holdings in Chevron by 1.8% during the third quarter. Peterson Wealth Management now owns 8,362 shares of the oil and gas company’s stock worth $1,232,000 after acquiring an additional 149 shares during the period. Vinva Investment Management Ltd grew its holdings in Chevron by 107.2% in the third quarter. Vinva Investment Management Ltd now owns 80,553 shares of the oil and gas company’s stock valued at $11,720,000 after purchasing an additional 41,685 shares during the period. Elite Wealth Management Inc. grew its holdings in Chevron by 14.8% in the third quarter. Elite Wealth Management Inc. now owns 5,437 shares of the oil and gas company’s stock valued at $801,000 after purchasing an additional 700 shares during the period. Financial Counselors Inc. grew its holdings in Chevron by 0.4% in the third quarter. Financial Counselors Inc. now owns 279,862 shares of the oil and gas company’s stock valued at $41,215,000 after purchasing an additional 1,057 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Chevron by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after purchasing an additional 138,496 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on CVX shares. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Barclays raised their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada raised their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a research report on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $175.56.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Trading Down 0.3 %

Shares of NYSE CVX opened at $162.11 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $153.03 and a 200-day simple moving average of $152.62. The stock has a market capitalization of $291.33 billion, a PE ratio of 17.81, a PEG ratio of 3.58 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the firm posted $3.05 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.02%. Chevron’s payout ratio is 71.65%.

Chevron 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.