72,878 Shares in Chevron Corporation $CVX Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Chevron Corporation (NYSE:CVX) during the second quarter, HoldingsChannel.com reports. The fund acquired 72,878 shares of the oil and gas company’s stock, valued at approximately $10,435,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd lifted its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new stake in Chevron in the first quarter valued at approximately $31,000. Quaker Wealth Management LLC increased its holdings in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 439 shares in the last quarter. IMG Wealth Management Inc. raised its position in shares of Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the period. Finally, Investment Management Corp VA ADV lifted its holdings in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several research reports. Bank of America upped their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Wells Fargo & Company initiated coverage on Chevron in a research note on Friday, October 17th. They issued an “overweight” rating and a $190.00 target price on the stock. Morgan Stanley boosted their price target on shares of Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Finally, Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $165.45.

Chevron Trading Up 0.3%

Shares of Chevron stock opened at $156.05 on Wednesday. The stock has a market capitalization of $269.65 billion, a P/E ratio of 20.08, a P/E/G ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock’s 50-day simple moving average is $155.33 and its 200 day simple moving average is $150.04.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter last year, the company earned $2.48 earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. As a group, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s payout ratio is presently 96.20%.

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.