NFJ Investment Group LLC Boosts Position in Chevron Co. (NYSE:CVX)

NFJ Investment Group LLC grew its holdings in Chevron Co. (NYSE:CVX - Free Report) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 251,700 shares of the oil and gas company's stock after acquiring an additional 8,685 shares during the period. Chevron comprises approximately 1.1% of NFJ Investment Group LLC's portfolio, making the stock its 21st largest position. NFJ Investment Group LLC's holdings in Chevron were worth $37,068,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CVX. Rational Advisors LLC acquired a new position in Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron during the third quarter worth $31,000. Anfield Capital Management LLC raised its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after buying an additional 118 shares in the last quarter. Finally, Cyrus J. Lawrence LLC raised its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after buying an additional 100 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE CVX traded down $0.31 during midday trading on Tuesday, reaching $161.90. 5,898,352 shares of the company were exchanged, compared to its average volume of 7,637,427. 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 1 year low of $135.37 and a 1 year high of $167.11. The stock has a fifty day simple moving average of $153.94 and a 200 day simple moving average of $152.46. The stock has a market cap of $290.95 billion, a P/E ratio of 17.79, a PEG ratio of 3.58 and a beta of 1.10.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the company posted $3.05 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Monday, November 18th. Chevron's dividend payout ratio is currently 71.65%.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVX. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. DZ Bank upgraded 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. UBS Group raised their price target on Chevron from $194.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $175.63.

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.