Chevron Co. (NYSE:CVX) Shares Bought by Castellan Group

Castellan Group raised its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 112.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,570 shares of the oil and gas company's stock after acquiring an additional 9,810 shares during the period. Castellan Group's holdings in Chevron were worth $2,735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Tidal Investments LLC grew its stake in Chevron by 5.8% during the third quarter. Tidal Investments LLC now owns 94,880 shares of the oil and gas company's stock worth $13,973,000 after buying an additional 5,222 shares during the period. Destination Wealth Management boosted its position in Chevron by 4.8% during the 3rd quarter. Destination Wealth Management now owns 32,616 shares of the oil and gas company's stock worth $4,803,000 after purchasing an additional 1,492 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in Chevron by 67.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 155,344 shares of the oil and gas company's stock valued at $22,877,000 after purchasing an additional 62,503 shares in the last quarter. Arvest Bank Trust Division purchased a new position in Chevron in the third quarter valued at about $2,891,000. Finally, World Investment Advisors LLC lifted its stake in shares of Chevron by 30.3% during the third quarter. World Investment Advisors LLC now owns 47,543 shares of the oil and gas company's stock worth $7,002,000 after purchasing an additional 11,054 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research note on Monday. Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial upped their target price on shares of Chevron from $155.00 to $160.00 and gave the company a "hold" rating in a research note on Friday, December 6th. DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Finally, Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $177.13.

Chevron Stock Performance

Chevron stock traded down $0.69 during mid-day trading on Friday, reaching $154.02. The company's stock had a trading volume of 4,088,710 shares, compared to its average volume of 7,664,593. 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 twelve month low of $135.37 and a twelve month high of $167.11. The business has a 50 day moving average price of $155.29 and a 200-day moving average price of $152.46. The firm has a market cap of $276.79 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 2.98 and a beta of 1.10.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company's quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.05 EPS. Sell-side analysts predict that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.23%. Chevron's dividend payout ratio (DPR) is presently 71.65%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm'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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.