Longfellow Investment Management Co. LLC Has $2.17 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Longfellow Investment Management Co. LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,745 shares of the oil and gas company’s stock after buying an additional 89 shares during the quarter. Chevron accounts for approximately 0.5% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its 24th biggest position. Longfellow Investment Management Co. LLC’s holdings in Chevron were worth $2,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. International Assets Investment Management LLC lifted its position in shares of Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after buying an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in Chevron by 15,750.1% during the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after purchasing an additional 3,876,731 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Chevron by 949.6% in the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after buying an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 11.5% during 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 last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Truist Financial increased their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value 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 approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $162.65 on Monday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $292.30 billion, a P/E ratio of 17.84, a PEG ratio of 3.58 and a beta of 1.09. The stock has a fifty day moving average price of $151.58 and a 200 day moving average price of $152.55.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.05 earnings per share. On average, research analysts forecast that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 4.01%. Chevron’s dividend payout ratio is 71.65%.

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.