Chevron Co. (NYSE:CVX) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,326 shares of the oil and gas company’s stock after purchasing an additional 1,253 shares during the period. Fred Alger Management LLC’s holdings in Chevron were worth $9,621,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Auxier Asset Management increased its position in Chevron by 1.6% during the 3rd quarter. Auxier Asset Management now owns 26,357 shares of the oil and gas company’s stock worth $3,882,000 after purchasing an additional 427 shares in the last quarter. Captrust Financial Advisors lifted its position in Chevron by 1.2% during the third quarter. Captrust Financial Advisors now owns 1,084,013 shares of the oil and gas company’s stock valued at $159,643,000 after buying an additional 12,688 shares in the last quarter. Kingfisher Capital LLC grew its stake in Chevron by 1.5% during the third quarter. Kingfisher Capital LLC now owns 5,440 shares of the oil and gas company’s stock worth $801,000 after buying an additional 82 shares during the period. CWS Financial Advisors LLC increased its position in shares of Chevron by 18.5% in the third quarter. CWS Financial Advisors LLC now owns 5,071 shares of the oil and gas company’s stock worth $747,000 after acquiring an additional 790 shares in the last quarter. Finally, Providence Wealth Advisors LLC raised its stake in shares of Chevron by 1.1% in the 3rd quarter. Providence Wealth Advisors LLC now owns 14,113 shares of the oil and gas company’s stock valued at $2,114,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.1 %

Shares of NYSE:CVX opened at $161.98 on Friday. The firm has a market cap of $291.09 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09. The company has a fifty day simple moving average of $153.36 and a 200 day simple moving average of $152.61. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last released 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. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the firm earned $3.05 EPS. The company’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.03%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction 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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on CVX shares. Wells Fargo & Company decreased 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. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Truist Financial increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.56.

Chevron 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.