Quantinno Capital Management LP Boosts Stake in Chevron Co. (NYSE:CVX)

Quantinno Capital Management LP grew its stake in shares of Chevron Co. (NYSE:CVX) by 38.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 149,359 shares of the oil and gas company’s stock after buying an additional 41,366 shares during the quarter. Quantinno Capital Management LP’s holdings in Chevron were worth $21,996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter worth $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $31,000. Anfield Capital Management LLC boosted its stake 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 purchasing an additional 118 shares in the last quarter. Finally, Cyrus J. Lawrence LLC boosted its stake 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 purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Mizuho lowered 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. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, Truist Financial lifted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.63.

Chevron Stock Down 2.2 %

CVX stock opened at $158.32 on Thursday. The firm has a 50 day moving average of $154.23 and a 200 day moving average of $152.50. The stock has a market capitalization of $284.52 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 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 company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the business earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 4.12%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

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.