Chevron Co. (NYSE:CVX) Shares Acquired by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 41.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 19,793 shares of the oil and gas company’s stock after acquiring an additional 5,760 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Chevron were worth $2,915,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after purchasing an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC raised its position in Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after acquiring an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Chevron by 949.6% in the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after acquiring an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVX. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Trading Up 0.2 %

NYSE:CVX opened at $162.65 on Monday. The stock has a market cap of $292.30 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09. 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 business’s 50-day simple moving average is $151.58 and its 200 day simple moving average is $152.55. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.05 earnings per share. As a group, sell-side analysts predict 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 issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 in the company, 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 SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.