LPL Financial LLC Has $463.56 Million Stock Position in Chevron Co. (NYSE:CVX)

LPL Financial LLC lifted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 5.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,147,686 shares of the oil and gas company's stock after buying an additional 171,089 shares during the quarter. LPL Financial LLC owned approximately 0.17% of Chevron worth $463,560,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. German American Bancorp Inc. boosted its position in Chevron by 33.5% during the 3rd quarter. German American Bancorp Inc. now owns 3,383 shares of the oil and gas company's stock valued at $498,000 after purchasing an additional 849 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Chevron in the third quarter valued at $2,945,000. Intech Investment Management LLC boosted its holdings in shares of 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 acquiring 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 third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,127 shares of the oil and gas company's stock worth $64,228,000 after acquiring an additional 14,909 shares during the last quarter. Finally, Cornerstone Advisors LLC increased its holdings 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 acquiring an additional 300 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.25 on Thursday, reaching $161.58. 5,911,960 shares of the company traded hands, compared to its average volume of 7,652,934. The stock has a market capitalization of $290.37 billion, a PE ratio of 17.82, a P/E/G ratio of 3.59 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company's 50 day moving average is $150.70 and its 200-day moving average is $152.63. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last issued 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 the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.05 EPS. As a group, analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have issued reports on CVX shares. Royal Bank of Canada boosted their target price 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. Wells Fargo & Company reduced their price objective on Chevron from $196.00 to $169.00 and set an "overweight" rating for the company in a research report on Friday, September 27th. Truist Financial raised their target price on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Mizuho reduced their price target 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, DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Four 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $174.93.

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.