Connor Clark & Lunn Investment Management Ltd. Buys 199,148 Shares of Chevron Co. (NYSE:CVX)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 429.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 245,477 shares of the oil and gas company's stock after buying an additional 199,148 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Chevron were worth $36,151,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rational Advisors LLC bought a new position in shares of Chevron during the third quarter worth $29,000. Anfield Capital Management LLC raised its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 66.7% during 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 bought a new position in shares of Chevron during the third quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory bought a new position in Chevron in the third quarter valued at approximately $47,000. Institutional investors own 72.42% of the company's stock.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 1.1 %

CVX stock traded up $1.73 during trading on Wednesday, hitting $161.33. 6,389,860 shares of the company traded hands, compared to its average volume of 7,651,631. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a 50-day moving average of $150.23 and a 200-day moving average of $152.57. The firm has a market capitalization of $289.92 billion, a PE ratio of 17.62, a P/E/G ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. During the same quarter last year, the business posted $3.05 EPS. The business's revenue was down 6.3% on a year-over-year basis. Analysts predict that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays raised their target price 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. UBS Group lifted their target price 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. Royal Bank of Canada upped their price target on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a "buy" rating and a $168.00 price target on the stock. Finally, Truist Financial lifted 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. Four 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.

Chevron 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.