1,860 Shares in Chevron Co. (NYSE:CVX) Bought by WCM Investment Management LLC

WCM Investment Management LLC purchased a new position in Chevron Co. (NYSE:CVXGet Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,860 shares of the oil and gas company’s stock, valued at approximately $303,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Qube Research & Technologies Ltd grew its holdings in shares of Chevron by 123.3% in the fourth quarter. Qube Research & Technologies Ltd now owns 135,720 shares of the oil and gas company’s stock valued at $15,927,000 after purchasing an additional 74,933 shares during the period. AGF Investments LLC grew its holdings in shares of Chevron by 58.9% in the fourth quarter. AGF Investments LLC now owns 2,957 shares of the oil and gas company’s stock valued at $347,000 after purchasing an additional 1,096 shares during the period. Pinnacle Associates Ltd. grew its holdings in shares of Chevron by 11.0% in the fourth quarter. Pinnacle Associates Ltd. now owns 130,640 shares of the oil and gas company’s stock valued at $15,331,000 after purchasing an additional 12,923 shares during the period. Valmark Advisers Inc. grew its holdings in shares of Chevron by 22.5% in the fourth quarter. Valmark Advisers Inc. now owns 9,195 shares of the oil and gas company’s stock valued at $1,079,000 after purchasing an additional 1,689 shares during the period. Finally, TrueWealth Advisors LLC grew its holdings in shares of Chevron by 7.4% in the fourth quarter. TrueWealth Advisors LLC now owns 7,597 shares of the oil and gas company’s stock valued at $892,000 after purchasing an additional 526 shares during the period. Hedge funds and other institutional investors own 65.89% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on shares of Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a research report on Tuesday, July 19th. Morgan Stanley raised their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “equal weight” rating in a report on Tuesday, July 19th. Bank of America raised their target price on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a report on Monday, August 1st. Raymond James increased their price target on shares of Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Finally, Cowen dropped their price target on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Chevron Price Performance

Shares of NYSE CVX opened at $153.64 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The stock has a fifty day moving average price of $154.37 and a 200 day moving average price of $155.35. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $182.40. The company has a market cap of $301.87 billion, a PE ratio of 10.25, a P/E/G ratio of 0.61 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The firm had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. During the same period last year, the company earned $1.71 earnings per share. The company’s revenue for the quarter was up 82.9% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 17.51 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is currently 37.89%.

Insider Buying and Selling at Chevron

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares of the company’s stock, valued at $574,762. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares of the company’s stock, valued at $574,762. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction on Friday, May 27th. The stock was sold at an average price of $177.29, for a total value of $2,134,394.31. Following the transaction, the director now directly owns 3,543 shares of the company’s stock, valued at approximately $628,138.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 399,043 shares of company stock valued at $67,010,843. 0.32% of the stock is owned by company insiders.

Chevron Profile

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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.

Read More

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXGet Rating).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.