Chevron Co. (NYSE:CVX) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its position in Chevron Co. (NYSE:CVX) by 429.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 245,477 shares of the oil and gas company’s stock after purchasing an additional 199,148 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Chevron were worth $36,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jennison Associates LLC raised its position in shares of Chevron by 11.9% in the third quarter. Jennison Associates LLC now owns 449,683 shares of the oil and gas company’s stock valued at $66,225,000 after buying an additional 47,747 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in Chevron by 93.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 125,646 shares of the oil and gas company’s stock valued at $18,504,000 after acquiring an additional 60,750 shares in the last quarter. Prospera Private Wealth LLC raised its holdings in Chevron by 404.8% in the 3rd quarter. Prospera Private Wealth LLC now owns 52,012 shares of the oil and gas company’s stock valued at $7,660,000 after acquiring an additional 41,709 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Chevron in the 3rd quarter worth approximately $10,959,000. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Chevron by 13.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 72,017 shares of the oil and gas company’s stock worth $10,606,000 after purchasing an additional 8,772 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CVX shares. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. UBS Group boosted their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Mizuho cut their price objective 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. Finally, Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Down 0.7 %

Shares of NYSE:CVX opened at $159.61 on Wednesday. The firm’s 50-day moving average is $150.23 and its two-hundred day moving average is $152.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market capitalization of $286.83 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09.

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, 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 for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the business earned $3.05 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts predict that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

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 paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Insider Activity 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 completion of the transaction, the chief executive officer now 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 legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

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.