Fisher Asset Management LLC Acquires 672,244 Shares of Chevron Co. (NYSE:CVX)

Fisher Asset Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,482,388 shares of the oil and gas company’s stock after purchasing an additional 672,244 shares during the quarter. Chevron comprises approximately 1.2% of Fisher Asset Management LLC’s investment portfolio, making the stock its 24th biggest position. Fisher Asset Management LLC owned about 1.07% of Chevron worth $2,869,171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Daiwa Securities Group Inc. boosted its holdings in shares of Chevron by 9.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 291,083 shares of the oil and gas company’s stock worth $42,867,000 after buying an additional 24,916 shares during the period. Garner Asset Management Corp boosted its holdings in shares of Chevron by 19.9% during the third quarter. Garner Asset Management Corp now owns 23,984 shares of the oil and gas company’s stock worth $3,532,000 after acquiring an additional 3,987 shares during the period. Pekin Hardy Strauss Inc. grew its position in shares of Chevron by 12.8% in the third quarter. Pekin Hardy Strauss Inc. now owns 35,861 shares of the oil and gas company’s stock valued at $5,281,000 after purchasing an additional 4,083 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of Chevron by 8.6% during the third quarter. Summit Trail Advisors LLC now owns 46,015 shares of the oil and gas company’s stock worth $6,777,000 after purchasing an additional 3,645 shares during the period. Finally, Capital Investment Counsel LLC lifted its holdings in Chevron by 4.5% during the 3rd quarter. Capital Investment Counsel LLC now owns 74,508 shares of the oil and gas company’s stock worth $10,973,000 after purchasing an additional 3,177 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Finally, UBS Group boosted their price target on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Up 0.5 %

Shares of NYSE CVX opened at $162.36 on Monday. The company has a market cap of $291.78 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 3.58 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $151.58 and a two-hundred day moving average price of $152.55. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the company earned $3.05 EPS. Chevron’s revenue was down 6.3% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Insider Transactions at Chevron

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

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.