Chevron Co. (NYSE:CVX) Stock Position Lifted by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its stake in shares of Chevron Co. (NYSE:CVX) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,857 shares of the oil and gas company’s stock after purchasing an additional 6,558 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Chevron were worth $8,079,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CVX. Rational Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter worth $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the third quarter worth about $30,000. Anfield Capital Management LLC lifted its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in shares of Chevron in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $160.38 on Tuesday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $288.22 billion, a P/E ratio of 17.62, a P/E/G ratio of 3.58 and a beta of 1.09. The firm has a 50 day simple moving average of $151.94 and a 200 day simple moving average of $152.51.

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

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. Chevron’s payout ratio is 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wells Fargo & Company cut their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada lifted their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Finally, Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

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.