Citizens Financial Group Inc. RI Buys 5,242 Shares of Chevron Co. (NYSE:CVX)

Citizens Financial Group Inc. RI lifted its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 10.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,736 shares of the oil and gas company's stock after purchasing an additional 5,242 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Chevron were worth $8,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. EagleClaw Capital Managment LLC boosted 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 worth $9,905,000 after buying an additional 1,170 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $30,000. Cedar Wealth Management LLC boosted its stake in shares of Chevron by 56.9% during the 3rd quarter. Cedar Wealth Management LLC now owns 4,407 shares of the oil and gas company's stock worth $649,000 after acquiring an additional 1,599 shares in the last quarter. MTM Investment Management LLC increased its stake in Chevron by 1.2% in the 3rd quarter. MTM Investment Management LLC now owns 28,312 shares of the oil and gas company's stock worth $4,268,000 after purchasing an additional 348 shares in the last quarter. Finally, Portfolio Design Labs LLC acquired a new stake in Chevron during the 3rd quarter worth about $1,423,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.2 %

Chevron stock opened at $161.58 on Friday. The company has a 50 day moving average of $151.14 and a 200-day moving average of $152.69. The stock has a market capitalization of $290.37 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.07 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.

Chevron (NYSE:CVX - Get Free Report) last posted 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 company had revenue of $50.67 billion for 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 revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $3.05 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CVX shares. Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Royal Bank of Canada raised their target price on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Truist Financial upped their price target on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, November 4th. DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Finally, UBS Group upped their target price on Chevron from $192.00 to $194.00 and gave the company a "buy" rating in a 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.