Chevron Co. (NYSE:CVX) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 5.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 845,084 shares of the oil and gas company’s stock after purchasing an additional 40,315 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Chevron were worth $124,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marietta Wealth Management LLC boosted its position in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC boosted its position in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after acquiring an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. RPG Investment Advisory LLC boosted its position in Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after acquiring an additional 3,933 shares during the period. Finally, Garner Asset Management Corp boosted its position in Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after acquiring an additional 2,530 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 2.2 %

Shares of Chevron stock opened at $158.32 on Thursday. The firm has a market capitalization of $284.52 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $154.23 and its 200-day moving average is $152.50.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.05 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on CVX shares. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group upped their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company cut their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.63.

Chevron Company Profile

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.