Legal & General Group Plc Boosts Holdings in Chevron Corporation $CVX

Legal & General Group Plc raised its position in Chevron Corporation (NYSE:CVX) by 3.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,074,924 shares of the oil and gas company’s stock after buying an additional 311,865 shares during the quarter. Legal & General Group Plc owned about 0.53% of Chevron worth $1,299,438,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CVX. Kingstone Capital Partners Texas LLC raised its holdings in Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Chevron during the 1st quarter worth approximately $1,466,751,000. Nuveen LLC acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $1,362,232,000. Charles Schwab Investment Management Inc. raised its position in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after purchasing an additional 1,107,628 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $150.34 on Friday. The firm has a market capitalization of $302.71 billion, a P/E ratio of 19.35, a PEG 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 current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $154.98 and a 200 day moving average price of $150.64.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is presently 96.20%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CVX shares. Scotiabank raised their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Evercore ISI reiterated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Finally, Barclays cut their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $166.55.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Chevron Company 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.