Chevron Corporation $CVX Shares Purchased by Brandes Investment Partners LP

Brandes Investment Partners LP raised its position in Chevron Corporation (NYSE:CVX) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 687,909 shares of the oil and gas company’s stock after acquiring an additional 15,278 shares during the quarter. Brandes Investment Partners LP’s holdings in Chevron were worth $98,503,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Elequin Capital LP acquired a new position in shares of Chevron during the first quarter worth $31,000. Quaker Wealth Management LLC lifted its holdings in Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares during the last quarter. Vermillion & White Wealth Management Group LLC boosted its position in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 118 shares in the last quarter. IMG Wealth Management Inc. increased its holdings in shares of Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares during the last quarter. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Chevron during the 1st quarter worth about $45,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVX shares. Bank of America upped their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Mizuho upped their target price on shares of Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Wells Fargo & Company increased their target price on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Piper Sandler reduced their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Finally, Zacks Research downgraded shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Monday, November 24th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Hold” and a consensus price target of $166.16.

Chevron Stock Up 0.9%

CVX stock opened at $152.53 on Tuesday. The company has a market cap of $307.12 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The company has a fifty day moving average price of $153.90 and a 200 day moving average price of $151.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period in the previous year, the business posted $2.48 earnings per share. Chevron’s quarterly revenue was down 1.9% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.21% 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.