Intech Investment Management LLC Buys 1,343 Shares of Chevron Co. (NYSE:CVX)

Intech Investment Management LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,668 shares of the oil and gas company’s stock after acquiring an additional 1,343 shares during the period. Intech Investment Management LLC’s holdings in Chevron were worth $10,702,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Chevron by 3.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,127 shares of the oil and gas company’s stock worth $64,228,000 after purchasing an additional 14,909 shares during the last quarter. Cornerstone Advisors LLC raised its stake in shares of Chevron by 0.4% during the third quarter. Cornerstone Advisors LLC now owns 80,400 shares of the oil and gas company’s stock worth $11,841,000 after acquiring an additional 300 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Chevron by 10.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 55,736 shares of the oil and gas company’s stock worth $8,208,000 after acquiring an additional 5,242 shares during the last quarter. EagleClaw Capital Managment LLC boosted its position in Chevron by 1.8% during the third quarter. EagleClaw Capital Managment LLC now owns 67,255 shares of the oil and gas company’s stock valued at $9,905,000 after buying an additional 1,170 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in Chevron during the 3rd quarter valued at about $30,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVX shares. UBS Group raised their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Truist Financial upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Scotiabank reduced their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Insider Buying and Selling

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

Chevron Price Performance

Shares of NYSE:CVX opened at $161.58 on Friday. 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 has a market capitalization of $290.37 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm’s 50 day moving average price is $151.14 and its 200-day moving average price is $152.69.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during 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 revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.05 EPS. Equities research analysts expect that Chevron Co. will post 10.55 EPS 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 $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.