Chevron Co. (NYSE:CVX) Shares Purchased by Castellan Group

Castellan Group boosted its stake in Chevron Co. (NYSE:CVX) by 112.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,570 shares of the oil and gas company’s stock after buying an additional 9,810 shares during the quarter. Castellan Group’s holdings in Chevron were worth $2,735,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. Montz Harcus Wealth Management LLC boosted its stake in shares of Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares in the last quarter. Tacita Capital Inc lifted its position in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 65 shares in the last quarter. Wallace Capital Management Inc. increased its position in Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares in the last quarter. Finally, S.A. Mason LLC boosted its stake in shares of Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CVX. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial lifted their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Friday, December 6th. UBS Group upped their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $177.13.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated 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 directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Trading Down 1.0 %

Shares of CVX opened at $154.72 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a 50-day moving average price of $155.29 and a 200 day moving average price of $152.46. The company has a market capitalization of $278.05 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.98 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the firm earned $3.05 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.21%. Chevron’s payout ratio is 71.65%.

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.