Chevron Co. (NYSE:CVX) Shares Bought by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board grew its stake in Chevron Co. (NYSE:CVX) by 20.2% during the 3rd quarter, Holdings Channel reports. The firm owned 5,471 shares of the oil and gas company’s stock after purchasing an additional 920 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Chevron were worth $806,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CVX. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Chevron during the 1st quarter worth about $566,000. Canada Pension Plan Investment Board lifted its holdings in shares of Chevron by 10.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 554,754 shares of the oil and gas company’s stock worth $87,507,000 after acquiring an additional 54,744 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Chevron by 6.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 27,377 shares of the oil and gas company’s stock worth $4,318,000 after purchasing an additional 1,552 shares during the period. Truvestments Capital LLC increased its holdings in Chevron by 34.4% in the 1st quarter. Truvestments Capital LLC now owns 926 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 237 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Chevron by 27.2% in the first quarter. 1832 Asset Management L.P. now owns 71,948 shares of the oil and gas company’s stock valued at $11,349,000 after purchasing an additional 15,383 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.2 %

Chevron stock opened at $161.58 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s 50-day moving average is $151.14 and its 200-day moving average is $152.69. The firm has a market capitalization of $290.37 billion, a PE ratio of 17.76, a P/E/G ratio of 3.59 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $3.05 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVX. UBS Group raised their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial lifted their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.93.

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.