Chevron Co. (NYSE:CVX) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 970,311 shares of the oil and gas company’s stock after selling 76,205 shares during the period. Russell Investments Group Ltd.’s holdings in Chevron were worth $139,444,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Worth Asset Management LLC acquired a new position in Chevron during the 1st quarter worth $36,000. Win Advisors Inc. grew its holdings in Chevron by 61.2% during the 2nd quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 120 shares in the last quarter. Joseph P. Lucia & Associates LLC grew its holdings in Chevron by 80.6% during the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 336 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 150 shares in the last quarter. Foster Dykema Cabot & Co. Inc. MA acquired a new position in Chevron during the 2nd quarter worth $69,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in Chevron during the 2nd quarter worth $72,000. 69.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, Director Alice P. Gast sold 2,706 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $179.44, for a total value of $485,564.64. Following the completion of the sale, the director now directly owns 21,964 shares of the company’s stock, valued at approximately $3,941,220.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Alice P. Gast sold 2,706 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $179.44, for a total value of $485,564.64. Following the completion of the sale, the director now directly owns 21,964 shares of the company’s stock, valued at approximately $3,941,220.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James William Johnson sold 143,466 shares of the company’s stock in a transaction that occurred on Monday, November 28th. The stock was 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. In the last three months, insiders sold 293,563 shares of company stock valued at $53,186,421. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Cowen raised their price objective on shares of Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, October 31st. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and lifted their price target for the company from $190.00 to $191.00 in a report on Friday, January 6th. Mizuho lowered shares of Chevron from a “buy” rating to a “neutral” rating and lifted their price target for the company from $185.00 to $200.00 in a report on Tuesday, January 10th. Piper Sandler decreased their price target on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Finally, Morgan Stanley lifted their price target on shares of Chevron from $193.00 to $196.00 and gave the company an “equal weight” rating in a report on Wednesday, October 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $186.67.

Chevron Trading Down 0.1 %

Shares of NYSE:CVX opened at $180.66 on Tuesday. The company has a market cap of $349.33 billion, a PE ratio of 10.28, a P/E/G ratio of 0.81 and a beta of 1.18. The company’s 50-day moving average price is $177.53 and its 200 day moving average price is $165.74. Chevron Co. has a fifty-two week low of $122.84 and a fifty-two week high of $189.68. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.13.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Friday, November 18th were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, November 17th. Chevron’s dividend payout ratio is currently 32.31%.

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.