Chevron Corporation $CVX Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 10.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,626,891 shares of the oil and gas company’s stock after acquiring an additional 150,042 shares during the period. Russell Investments Group Ltd.’s holdings in Chevron were worth $332,271,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Capital Inc. acquired a new position in shares of Chevron during the 2nd quarter worth about $786,000. OneAscent Wealth Management LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at approximately $973,000. Global Retirement Partners LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at approximately $14,276,000. Greg Jennings LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $1,314,000. Finally, Ferguson Wellman Capital Management Inc. raised its position in shares of Chevron by 0.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock valued at $186,182,000 after acquiring an additional 5,787 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVX. BNP Paribas Exane decreased their price objective on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Barclays upped their target price on shares of Chevron from $208.00 to $244.00 and gave the company an “equal weight” rating in a research note on Monday, November 2nd. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Wells Fargo & Company lifted their price target on shares of Chevron from $230.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Finally, Jefferies Financial Group upped their price objective on shares of Chevron from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $222.81.

Chevron News Roundup

Investors following CVX have been watching these news items:

• Positive Sentiment: Chevron plans to restart its Ralston biodiesel facility in Iowa, supported by a feedstock supply agreement with Landus Cooperative. The move could add to its renewable-fuels activity, though the articles provided no financial contribution estimates. Article: Chevron to Restart Ralston Biodiesel Facility in Iowa
• Neutral Sentiment: Chevron has emphasized the importance of maintaining financial strength amid volatile oil prices. Uncertainty about the oil-market outlook could affect results, although the company’s integrated business and strong refining performance offer some diversification. Article: What Exxon, Chevron and Shell Said About Where Oil Goes Next
• Negative Sentiment: Sanford C. Bernstein cut its price target to $233 from $248 and maintained a “market perform” rating, signaling less upside in its updated view. Article: Bernstein Lowers Chevron Price Target

Chevron Price Performance

NYSE CVX opened at $216.64 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.34. The stock has a market cap of $425.78 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 0.50 and a beta of 0.47. The business has a 50 day simple moving average of $215.33 and a 200 day simple moving average of $195.33. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. The firm had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The business’s revenue was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share. Analysts anticipate that Chevron Corporation will post 18.64 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

In related news, Vice Chairman Mark Nelson sold 112,000 shares of the business’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $210.48, for a total value of $23,573,760.00. Following the sale, the insider directly owned 11,647 shares of the company’s stock, valued at approximately $2,451,460.56. The trade was a 90.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider R. Pate sold 40,700 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the transaction, the insider owned 8,791 shares of the company’s stock, valued at approximately $1,992,480.15. This trade represents a 82.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 174,370 shares of company stock worth $37,224,309 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Chevron Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives. The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.