Marshall Wace LLP Boosts Stake in Chevron Corporation $CVX

Marshall Wace LLP increased its stake in Chevron Corporation (NYSE:CVX) by 76.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,534,575 shares of the oil and gas company’s stock after acquiring an additional 666,071 shares during the period. Marshall Wace LLP owned about 0.09% of Chevron worth $219,736,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Analyst IMS Investment Management Services Ltd. increased its position in shares of Chevron by 1.0% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock valued at $966,000 after purchasing an additional 67 shares during the last quarter. Greenfield Savings Bank boosted its stake in Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after buying an additional 68 shares in the last quarter. Atwater Malick LLC grew its position in Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its stake in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after acquiring an additional 68 shares in the last quarter. Finally, Clarity Wealth Advisors LLC lifted its holdings in shares of Chevron by 1.7% in the 2nd quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock worth $597,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

Chevron Stock Up 0.4%

Shares of NYSE:CVX opened at $152.21 on Friday. The stock’s 50-day moving average is $153.43 and its 200 day moving average is $151.43. The company has a market cap of $306.48 billion, a PE ratio of 21.41, a P/E/G ratio of 8.97 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 return on equity of 8.74% and a net margin of 6.57%.The business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter last year, the business posted $2.48 EPS. The business’s revenue was down 1.9% on a year-over-year basis. Sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders 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 yield of 4.5%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVX shares. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday. Scotiabank raised their price objective on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Zacks Research lowered Chevron from a “hold” rating to a “strong sell” rating in a research note on Monday, November 24th. Melius Research started coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Finally, Morgan Stanley lifted their price target on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $166.16.

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.