Man Group plc Has $17.03 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Man Group plc decreased its holdings in Chevron Co. (NYSE:CVX) by 36.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 143,568 shares of the oil and gas company’s stock after selling 82,670 shares during the period. Man Group plc’s holdings in Chevron were worth $17,026,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CVX. Vanguard Group Inc. boosted its holdings in shares of Chevron by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 157,513,617 shares of the oil and gas company’s stock valued at $19,600,995,000 after acquiring an additional 1,572,940 shares in the last quarter. BlackRock Inc. grew its position in Chevron by 3.5% during the 2nd quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock worth $16,366,651,000 after acquiring an additional 4,401,622 shares during the last quarter. Northern Trust Corp increased its holdings in Chevron by 2.8% in the 2nd quarter. Northern Trust Corp now owns 28,068,068 shares of the oil and gas company’s stock worth $3,492,791,000 after purchasing an additional 769,941 shares in the last quarter. Morgan Stanley increased its holdings in Chevron by 7.9% in the 2nd quarter. Morgan Stanley now owns 16,262,708 shares of the oil and gas company’s stock worth $2,023,732,000 after purchasing an additional 1,184,133 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in Chevron by 2,073.6% in the second quarter. Nuveen Asset Management LLC now owns 14,886,232 shares of the oil and gas company’s stock valued at $1,852,443,000 after purchasing an additional 14,201,379 shares during the last quarter. Institutional investors own 65.69% of the company’s stock.

Shares of CVX opened at $116.80 on Tuesday. The business has a 50-day moving average of $118.20 and a 200-day moving average of $119.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 0.93. The company has a market capitalization of $221.48 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 3.06 and a beta of 1.01. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $127.34.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.11). The company had revenue of $36.12 billion during the quarter, compared to the consensus estimate of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. The business’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.11 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 6.39 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.19 per share. The ex-dividend date is Friday, November 15th. This represents a $4.76 annualized dividend and a yield of 4.08%. Chevron’s payout ratio is 57.70%.

A number of analysts have recently commented on CVX shares. Cowen cut their price target on Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Piper Jaffray Companies started coverage on Chevron in a research note on Tuesday, November 26th. They issued a “buy” rating and a $143.00 price objective for the company. ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays began coverage on shares of Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price objective for the company. Finally, BMO Capital Markets initiated coverage on shares of Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $136.23.

In related news, CEO Michael K. Wirth sold 33,750 shares of Chevron stock in a transaction on Monday, September 16th. The shares were sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the completion of the transaction, the chief executive officer now owns 33,750 shares of the company’s stock, valued at $4,218,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Pierre R. Breber sold 15,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $124.97, for a total transaction of $1,874,550.00. The disclosure for this sale can be found here. Insiders sold a total of 63,750 shares of company stock worth $7,891,650 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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