Chevron Co. (NYSE:CVX) Shares Purchased by LPL Financial LLC

LPL Financial LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 5.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,147,686 shares of the oil and gas company’s stock after buying an additional 171,089 shares during the period. LPL Financial LLC’s holdings in Chevron were worth $463,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Chevron during the first quarter worth about $566,000. Capital International Inc. CA grew its stake in Chevron by 11.7% during the 1st quarter. Capital International Inc. CA now owns 125,640 shares of the oil and gas company’s stock worth $19,818,000 after buying an additional 13,135 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Chevron by 10.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 554,754 shares of the oil and gas company’s stock worth $87,507,000 after buying an additional 54,744 shares during the last quarter. Stonebridge Capital Advisors LLC increased its position in Chevron by 6.7% during the first quarter. Stonebridge Capital Advisors LLC now owns 88,564 shares of the oil and gas company’s stock worth $13,970,000 after buying an additional 5,538 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in Chevron by 6.0% in the first quarter. Gamco Investors INC. ET AL now owns 27,377 shares of the oil and gas company’s stock valued at $4,318,000 after buying an additional 1,552 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. 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 research report on Friday, September 27th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Price Performance

Shares of NYSE CVX opened at $161.30 on Thursday. The company’s fifty day moving average is $150.70 and its two-hundred day moving average is $152.63. 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 firm has a market capitalization of $289.87 billion, a P/E ratio of 17.73, a PEG ratio of 3.59 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron’s payout ratio is 71.65%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.