Arrowstreet Capital Limited Partnership Purchases 594,332 Shares of Chevron Corporation $CVX

Arrowstreet Capital Limited Partnership raised its position in Chevron Corporation (NYSE:CVX) by 293.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 796,874 shares of the oil and gas company’s stock after buying an additional 594,332 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Chevron were worth $114,104,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. NBW Capital LLC increased its stake in shares of Chevron by 3.4% in the second quarter. NBW Capital LLC now owns 4,303 shares of the oil and gas company’s stock valued at $616,000 after buying an additional 142 shares during the period. Brandes Investment Partners LP grew its holdings in Chevron by 2.3% during the 2nd quarter. Brandes Investment Partners LP now owns 687,909 shares of the oil and gas company’s stock worth $98,503,000 after acquiring an additional 15,278 shares during the last quarter. Boston Family Office LLC raised its stake in shares of Chevron by 2.5% during the second quarter. Boston Family Office LLC now owns 114,116 shares of the oil and gas company’s stock valued at $16,341,000 after acquiring an additional 2,807 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in shares of Chevron by 11.4% during the second quarter. OMERS ADMINISTRATION Corp now owns 77,323 shares of the oil and gas company’s stock worth $11,072,000 after purchasing an additional 7,900 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Chevron by 1.9% in the second quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock worth $2,982,190,000 after purchasing an additional 378,936 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on CVX shares. Melius Research assumed coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Scotiabank increased their price target on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Zacks Research cut Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. Finally, Morgan Stanley increased their target price on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and an average price target of $166.16.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $151.58 on Thursday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $305.20 billion, a PE ratio of 21.32, a P/E/G ratio of 9.02 and a beta of 0.68. The stock has a 50-day moving average of $153.61 and a 200-day moving average of $151.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same quarter in the prior year, the company earned $2.48 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

About Chevron

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.