Waddell & Associates LLC Buys 441 Shares of Chevron Co. (NYSE:CVX)

Waddell & Associates LLC raised its stake in Chevron Co. (NYSE:CVX) by 4.9% during the third quarter, HoldingsChannel.com reports. The fund owned 9,407 shares of the oil and gas company’s stock after purchasing an additional 441 shares during the quarter. Waddell & Associates LLC’s holdings in Chevron were worth $1,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Rational Advisors LLC bought a new stake in Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the 3rd quarter worth about $30,000. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $47,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVX shares. Barclays upped their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. UBS Group raised their price target on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Finally, Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Trading Up 0.5 %

Shares of NYSE:CVX opened at $162.36 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $291.78 billion, a PE ratio of 17.84, a P/E/G ratio of 3.56 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business’s fifty day simple moving average is $151.58 and its 200-day simple moving average is $152.69.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during 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 company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.05 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm 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 is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. Chevron’s dividend payout ratio is presently 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

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.