Caprock Group LLC Has $9.18 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Caprock Group LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 21.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,320 shares of the oil and gas company’s stock after purchasing an additional 11,167 shares during the quarter. Caprock Group LLC’s holdings in Chevron were worth $9,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Anfield Capital Management LLC increased its holdings in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter valued at $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group lifted their price target on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial raised their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Up 0.6 %

Shares of Chevron stock opened at $160.78 on Tuesday. The firm has a market cap of $288.94 billion, a PE ratio of 17.67, a P/E/G ratio of 3.63 and a beta of 1.09. The business’s 50 day simple moving average is $149.80 and its 200 day simple moving average is $152.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

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.