Clearbridge Investments LLC Purchases 10,649 Shares of Chevron Co. (NYSE:CVX)

Clearbridge Investments LLC grew its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 0.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,062,202 shares of the oil and gas company’s stock after buying an additional 10,649 shares during the period. Clearbridge Investments LLC’s holdings in Chevron were worth $307,598,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Regent Peak Wealth Advisors LLC boosted its stake in shares of Chevron by 1.4% during the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after purchasing an additional 68 shares during the period. Octavia Wealth Advisors LLC grew its stake in Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 68 shares in the last quarter. Investment Partners LTD. increased its holdings in Chevron by 0.8% during the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 68 shares during the period. ACT Wealth Management LLC raised its position in Chevron by 1.7% during the 4th quarter. ACT Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock valued at $641,000 after purchasing an additional 70 shares in the last quarter. Finally, Lwmg LLC lifted its holdings in shares of Chevron by 3.4% in the 3rd quarter. Lwmg LLC now owns 2,148 shares of the oil and gas company’s stock worth $362,000 after buying an additional 71 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CVX shares. HSBC lifted their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. TD Cowen upped their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Tuesday, February 6th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $186.10.

Check Out Our Latest Research Report on CVX

Insider Transactions at Chevron

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now directly owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold 15,796 shares of company stock worth $2,575,361 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of Chevron stock traded down $1.29 during midday trading on Monday, hitting $161.38. The company had a trading volume of 2,494,257 shares, compared to its average volume of 8,222,364. The stock has a market cap of $298.07 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.40 and a beta of 1.11. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $159.73 and a 200 day simple moving average of $152.16.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the previous year, the firm posted $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 13.57 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron’s dividend payout ratio is currently 59.98%.

Chevron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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