Knuff & Co LLC Acquires 1,315 Shares of Chevron Co. (NYSE:CVX)

Knuff & Co LLC grew its holdings in Chevron Co. (NYSE:CVX) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,849 shares of the oil and gas company’s stock after acquiring an additional 1,315 shares during the quarter. Knuff & Co LLC’s holdings in Chevron were worth $2,334,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC raised its holdings in shares of Chevron by 19,404.1% during the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after acquiring an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after purchasing an additional 3,876,731 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. Wulff Hansen & CO. lifted its holdings in shares of Chevron by 15,542.0% in the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CVX shares. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Barclays lifted their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Truist Financial increased their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. UBS Group lifted their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Price Performance

NYSE:CVX opened at $160.78 on Tuesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market capitalization of $288.94 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 3.63 and a beta of 1.09. The stock’s 50 day moving average price is $149.80 and its two-hundred day moving average price is $152.57. 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 (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is 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.