Russell Investments Group Ltd. lessened its position in Chevron Co. (NYSE:CVX) by 6.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,623,809 shares of the oil and gas company’s stock after selling 105,399 shares during the period. Russell Investments Group Ltd. owned 0.09% of Chevron worth $190,774,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Harbour Capital Advisors LLC boosted its stake in shares of Chevron by 10,213.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after purchasing an additional 5,653,686 shares in the last quarter. Vanguard Group Inc. lifted its position in Chevron by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after acquiring an additional 3,920,240 shares during the period. Capital World Investors lifted its position in Chevron by 9.8% during the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after acquiring an additional 3,182,250 shares during the period. Janus Henderson Group PLC lifted its position in Chevron by 669.9% during the 2nd quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after acquiring an additional 2,810,928 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in Chevron by 305,886.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock valued at $307,042,000 after acquiring an additional 2,612,270 shares during the period. 63.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chevron Co. (CVX) opened at $113.98 on Tuesday. Chevron Co. has a 12 month low of $102.55 and a 12 month high of $133.88. The company has a market cap of $215,578.94, a P/E ratio of 27.82, a PEG ratio of 2.23 and a beta of 1.15. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). Chevron had a return on equity of 5.23% and a net margin of 6.49%. The company had revenue of $37.62 billion during the quarter, compared to the consensus estimate of $38.43 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business’s revenue was up 19.4% compared to the same quarter last year. research analysts anticipate that Chevron Co. will post 6.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s payout ratio is currently 89.07%.
A number of research analysts recently issued reports on CVX shares. TheStreet raised shares of Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research report on Tuesday, October 31st. Citigroup lifted their price target on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Jefferies Group reissued a “buy” rating and set a $137.00 price target (up from $113.54) on shares of Chevron in a research report on Monday, October 30th. Finally, Bank of America set a $125.00 price target on shares of Chevron and gave the company a “buy” rating in a research report on Saturday, December 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $130.30.
In related news, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the sale, the insider now directly owns 42,182 shares in the company, valued at $5,019,658. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael K. Wirth sold 110,771 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the sale, the executive vice president now owns 110,771 shares of the company’s stock, valued at $12,868,267.07. The disclosure for this sale can be found here. Insiders sold 264,021 shares of company stock valued at $30,619,037 over the last quarter. Company insiders own 0.38% of the company’s stock.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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