Windle Wealth LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

Windle Wealth LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 12.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 43,928 shares of the oil and gas company’s stock after acquiring an additional 4,851 shares during the quarter. Chevron makes up about 3.5% of Windle Wealth LLC’s investment portfolio, making the stock its 22nd biggest position. Windle Wealth LLC’s holdings in Chevron were worth $6,469,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. lifted its position in shares of Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the last quarter. Capital World Investors raised its position in Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc raised its position in Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after purchasing an additional 629,644 shares during the last quarter. Capital International Investors raised its position in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Chevron by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after purchasing an additional 126,889 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions 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 shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade 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 available through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $160.78 on Tuesday. The stock has a market cap of $288.94 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 3.63 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company’s 50-day moving average price is $149.80 and its 200 day moving average price is $152.57. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its earnings results 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 company had revenue of $50.67 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $3.05 EPS. As a group, research analysts forecast that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.06%. Chevron’s payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

Several research firms recently commented on CVX. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Finally, Truist Financial boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.