Russell Investments Group Ltd. Has $139.44 Million Holdings in Chevron Co. (NYSE:CVX)

Russell Investments Group Ltd. lowered its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 7.3% during the third quarter, Holdings Channel reports. The fund owned 970,311 shares of the oil and gas company’s stock after selling 76,205 shares during the quarter. Russell Investments Group Ltd.’s holdings in Chevron were worth $139,444,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Worth Asset Management LLC acquired a new stake in shares of Chevron during the first quarter valued at approximately $36,000. Win Advisors Inc. increased its stake in Chevron by 61.2% in the 2nd quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 120 shares during the period. Joseph P. Lucia & Associates LLC increased its stake in Chevron by 80.6% in the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 336 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 150 shares during the period. Foster Dykema Cabot & Co. Inc. MA acquired a new position in Chevron in the 2nd quarter valued at approximately $69,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in Chevron in the 2nd quarter valued at approximately $72,000. Institutional investors and hedge funds own 69.37% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, Director Alice P. Gast sold 2,706 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $179.44, for a total value of $485,564.64. Following the completion of the sale, the director now directly owns 21,964 shares of the company’s stock, valued at approximately $3,941,220.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Chevron news, Director Alice P. Gast sold 2,706 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $179.44, for a total value of $485,564.64. Following the completion of the sale, the director now directly owns 21,964 shares of the company’s stock, valued at approximately $3,941,220.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP R. Hewitt Pate sold 32,391 shares of the stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The disclosure for this sale can be found here. Insiders sold a total of 293,563 shares of company stock valued at $53,186,421 in the last ninety days. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CVX. Citigroup upped their price objective on shares of Chevron from $155.00 to $180.00 in a research note on Tuesday, November 22nd. BNP Paribas lowered shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price objective on the stock. in a research note on Wednesday, December 14th. Piper Sandler dropped their price objective on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, December 19th. Cowen upped their price objective on shares of Chevron from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, October 31st. Finally, Cowen increased their price target on shares of Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $186.67.

Chevron Price Performance

NYSE CVX opened at $180.66 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $177.53 and a 200 day simple moving average of $165.74. The company has a market cap of $349.33 billion, a P/E ratio of 10.28, a P/E/G ratio of 0.81 and a beta of 1.18. Chevron Co. has a 1 year low of $122.84 and a 1 year high of $189.68.

Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings data on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.54. The business had revenue of $66.64 billion during the quarter, compared to the consensus estimate of $61.44 billion. Chevron had a net margin of 14.36% and a return on equity of 22.36%. Chevron’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.96 EPS. On average, sell-side analysts predict that Chevron Co. will post 18.91 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, November 17th. Chevron’s dividend payout ratio (DPR) is presently 32.31%.

About Chevron

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.