Empirical Finance LLC Purchases 7,813 Shares of Chevron Co. (NYSE:CVX)

Empirical Finance LLC raised its position in Chevron Co. (NYSE:CVXGet Rating) by 19.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 47,047 shares of the oil and gas company’s stock after buying an additional 7,813 shares during the period. Chevron comprises approximately 0.8% of Empirical Finance LLC’s holdings, making the stock its 22nd largest holding. Empirical Finance LLC’s holdings in Chevron were worth $6,759,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Chevron by 600.7% in the 2nd quarter. Renaissance Technologies LLC now owns 5,786,295 shares of the oil and gas company’s stock valued at $837,740,000 after purchasing an additional 4,960,475 shares during the period. FMR LLC raised its stake in shares of Chevron by 62.3% in the 2nd quarter. FMR LLC now owns 11,343,585 shares of the oil and gas company’s stock valued at $1,642,325,000 after purchasing an additional 4,354,660 shares during the period. New England Asset Management Inc. raised its stake in shares of Chevron by 3,518.8% in the 2nd quarter. New England Asset Management Inc. now owns 2,151,915 shares of the oil and gas company’s stock valued at $311,555,000 after purchasing an additional 2,092,450 shares during the period. Legal & General Group Plc raised its stake in shares of Chevron by 16.3% in the 2nd quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock valued at $1,964,620,000 after purchasing an additional 1,899,104 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Chevron by 10.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,405,192 shares of the oil and gas company’s stock valued at $927,344,000 after purchasing an additional 592,981 shares during the period. 69.37% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP R. Hewitt Pate sold 32,391 shares of Chevron stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total value of $5,830,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chevron news, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James William Johnson sold 143,466 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $179.30, for a total transaction of $25,723,453.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,563 shares of company stock worth $53,186,421. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVX. Citigroup raised their price objective on Chevron from $155.00 to $180.00 in a report on Tuesday, November 22nd. StockNews.com began coverage on Chevron in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James raised their price objective on Chevron from $188.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Piper Sandler decreased their price objective on Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Finally, Cowen lifted their price target on Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and an average target price of $186.71.

Chevron Stock Up 0.1 %

NYSE CVX opened at $180.83 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $125.27 and a 1-year high of $189.68. The company has a 50 day moving average of $177.39 and a 200-day moving average of $166.01. The company has a market cap of $349.66 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.81 and a beta of 1.18.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share for the quarter, beating analysts’ consensus estimates of $5.02 by $0.54. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The company had revenue of $66.64 billion during the quarter, compared to the consensus estimate of $61.44 billion. During the same period in the previous year, the business earned $2.96 earnings per share. The firm’s quarterly revenue was up 49.1% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 18.91 earnings per share for the current fiscal year.

Chevron Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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