Lincoln National Corp Has $10.01 Million Position in Chevron Co. (NYSE:CVX)

Lincoln National Corp trimmed its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,678 shares of the oil and gas company’s stock after selling 759 shares during the quarter. Lincoln National Corp’s holdings in Chevron were worth $10,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CVX. Renaissance Technologies LLC boosted its holdings in Chevron by 600.7% during the 2nd quarter. Renaissance Technologies LLC now owns 5,786,295 shares of the oil and gas company’s stock worth $837,740,000 after acquiring an additional 4,960,475 shares during the last quarter. FMR LLC raised its stake in shares of Chevron by 62.3% during the 2nd quarter. FMR LLC now owns 11,343,585 shares of the oil and gas company’s stock worth $1,642,325,000 after purchasing an additional 4,354,660 shares during the period. New England Asset Management Inc. raised its stake in shares of Chevron by 3,518.8% during the 2nd quarter. New England Asset Management Inc. now owns 2,151,915 shares of the oil and gas company’s stock worth $311,555,000 after purchasing an additional 2,092,450 shares during the period. Legal & General Group Plc raised its stake in shares of Chevron by 16.3% during the 2nd quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock worth $1,964,620,000 after purchasing an additional 1,899,104 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Chevron by 10.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,405,192 shares of the oil and gas company’s stock worth $927,344,000 after purchasing an additional 592,981 shares during the period. 69.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CVX. Morgan Stanley lifted their target price on Chevron from $193.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 19th. StockNews.com began coverage on Chevron in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. BNP Paribas cut Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 target price on the stock. in a research note on Wednesday, December 14th. Raymond James boosted their price objective on Chevron from $188.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, October 31st. Finally, HSBC boosted their price objective on Chevron to $187.00 in a research note on Friday, December 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $186.67.

Chevron Trading Down 0.1 %

Shares of CVX opened at $180.66 on Tuesday. The business’s 50-day moving average price is $177.53 and its 200-day moving average price is $165.74. Chevron Co. has a twelve month low of $122.84 and a twelve month high of $189.68. The stock has a market cap of $349.33 billion, a PE ratio of 10.28, a P/E/G ratio of 0.81 and a beta of 1.18. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.54. Chevron had a return on equity of 22.36% and a net margin of 14.36%. The firm had revenue of $66.64 billion for the quarter, compared to analysts’ expectations of $61.44 billion. During the same period in the prior year, the business posted $2.96 earnings per share. The company’s revenue was up 49.1% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 18.91 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Friday, November 18th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, November 17th. Chevron’s payout ratio is 32.31%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 55,380 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $185.09, for a total transaction of $10,250,284.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael K. Wirth sold 55,380 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $185.09, for a total transaction of $10,250,284.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total value of $5,830,380.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,563 shares of company stock valued at $53,186,421. 0.32% of the stock is owned by corporate insiders.

Chevron Company Profile

(Get Rating)

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

Further Reading

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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