Russell Investments Group Ltd. Trims Stock Position in Chevron Co. (NYSE:CVX)

Russell Investments Group Ltd. lessened its holdings in Chevron Co. (NYSE:CVX) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 969,316 shares of the oil and gas company’s stock after selling 73,676 shares during the period. Russell Investments Group Ltd. owned 0.05% of Chevron worth $144,597,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron in the third quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc lifted its stake in shares of Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research note on Tuesday, February 6th. Raymond James increased their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Barclays started coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Chevron Stock Up 0.4 %

CVX stock traded up $0.61 during mid-day trading on Friday, hitting $165.89. 9,736,350 shares of the company were exchanged, compared to its average volume of 7,082,480. The company has a market capitalization of $308.10 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The firm has a fifty day simple moving average of $156.58 and a 200 day simple moving average of $151.83.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $3.55 EPS. On average, research analysts forecast that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s payout ratio is currently 57.39%.

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.