Renaissance Investment Group LLC Acquires 129 Shares of Chevron Co. (NYSE:CVX)

Renaissance Investment Group LLC raised its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,213 shares of the oil and gas company’s stock after purchasing an additional 129 shares during the quarter. Renaissance Investment Group LLC’s holdings in Chevron were worth $320,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Chevron in the fourth quarter worth $3,111,594,000. Vanguard Group Inc. lifted its holdings in shares of Chevron by 2.7% in the first quarter. Vanguard Group Inc. now owns 167,767,288 shares of the oil and gas company’s stock worth $27,317,547,000 after buying an additional 4,367,157 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Chevron by 1,886.8% in the first quarter. 1832 Asset Management L.P. now owns 2,346,162 shares of the oil and gas company’s stock worth $376,786,000 after buying an additional 2,228,072 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Chevron by 17.3% in the first quarter. Dimensional Fund Advisors LP now owns 9,763,275 shares of the oil and gas company’s stock worth $1,589,915,000 after buying an additional 1,437,047 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Chevron by 13.6% in the first quarter. Swiss National Bank now owns 8,349,332 shares of the oil and gas company’s stock worth $1,359,522,000 after buying an additional 998,700 shares in the last quarter. Hedge funds and other institutional investors own 69.30% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, CFO Pierre R. Breber sold 22,500 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the transaction, the chief financial officer now directly owns 7 shares in the company, valued at approximately $1,106.77. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the transaction, the director now directly owns 3,560 shares in the company, valued at approximately $574,762. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the completion of the sale, the chief financial officer now owns 7 shares in the company, valued at $1,106.77. The disclosure for this sale can be found here. Insiders have sold a total of 141,732 shares of company stock worth $23,024,499 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $172.00 target price on shares of Chevron in a report on Thursday, August 4th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 20th. Piper Sandler boosted their price target on shares of Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, September 12th. Cowen boosted their price target on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Finally, Cowen boosted their price target on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $169.20.

Chevron Trading Down 0.8 %

CVX stock opened at $155.01 on Thursday. The company has a market capitalization of $304.57 billion, a PE ratio of 10.34, a P/E/G ratio of 0.61 and a beta of 1.15. Chevron Co. has a 12 month low of $96.24 and a 12 month high of $182.40. The firm’s 50-day moving average is $155.36 and its 200 day moving average is $160.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping the consensus estimate of $4.66 by $1.16. The company had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The firm’s revenue was up 82.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.71 EPS. On average, research analysts anticipate that Chevron Co. will post 18.37 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.66%. The ex-dividend date was Thursday, August 18th. Chevron’s dividend payout ratio is presently 37.89%.

About Chevron

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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