Landscape Capital Management L.L.C. acquired a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,997 shares of the oil and gas company's stock, valued at approximately $2,945,000.
A number of other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC grew its position in Chevron by 1.9% during the third quarter. Intech Investment Management LLC now owns 72,668 shares of the oil and gas company's stock valued at $10,702,000 after buying an additional 1,343 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Chevron by 3.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,127 shares of the oil and gas company's stock valued at $64,228,000 after acquiring an additional 14,909 shares during the period. Cornerstone Advisors LLC increased its stake in shares of Chevron by 0.4% in the 3rd quarter. Cornerstone Advisors LLC now owns 80,400 shares of the oil and gas company's stock worth $11,841,000 after purchasing an additional 300 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in Chevron by 10.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 55,736 shares of the oil and gas company's stock worth $8,208,000 after purchasing an additional 5,242 shares during the period. Finally, EagleClaw Capital Managment LLC grew its holdings in Chevron by 1.8% during the third quarter. EagleClaw Capital Managment LLC now owns 67,255 shares of the oil and gas company's stock valued at $9,905,000 after purchasing an additional 1,170 shares during the period. Institutional investors own 72.42% of the company's stock.
Several equities research analysts recently issued reports on CVX shares. Royal Bank of Canada increased their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a report on Monday, September 16th. UBS Group raised 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. Finally, Truist Financial upped their price objective on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.93.
Read Our Latest Stock Analysis on CVX
Shares of NYSE CVX opened at $161.30 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm's 50-day moving average price is $150.70 and its 200-day moving average price is $152.63. The stock has a market capitalization of $289.87 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 3.59 and a beta of 1.09.
Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.05 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 10.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron's payout ratio is 71.65%.
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 stock was 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company's stock.
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.
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