Portfolio Design Labs LLC Acquires New Stake in Chevron Co. (NYSE:CVX)

Portfolio Design Labs LLC purchased a new position in shares of Chevron Co. (NYSE:CVX - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 9,662 shares of the oil and gas company's stock, valued at approximately $1,423,000.

Several other institutional investors have also bought and sold shares of the company. Rational Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth about $29,000. Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its holdings 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 worth $39,000 after purchasing an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth $47,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Chevron during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the company'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 value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. UBS Group boosted their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Finally, Truist Financial raised their price target on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $174.93.

Chevron Stock Up 1.1 %

CVX traded up $1.70 during trading on Wednesday, reaching $161.30. The stock had a trading volume of 6,390,683 shares, compared to its average volume of 7,651,631. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $289.87 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 3.63 and a beta of 1.09. The stock's 50 day moving average is $150.23 and its two-hundred day moving average is $152.57. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate 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. Chevron's quarterly revenue was down 6.3% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron's dividend payout ratio (DPR) is 71.65%.

About Chevron

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.