Tidal Investments LLC Increases Stake in Chevron Co. (NYSE:CVX)

Tidal Investments LLC grew its stake in Chevron Co. (NYSE:CVX - Free Report) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,880 shares of the oil and gas company's stock after purchasing an additional 5,222 shares during the quarter. Tidal Investments LLC's holdings in Chevron were worth $13,973,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its stake in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Chevron by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company's stock valued at $2,869,171,000 after purchasing an additional 672,244 shares during the last quarter. Ameriprise Financial Inc. grew its position in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock worth $2,676,957,000 after acquiring an additional 501,969 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company's stock valued at $2,122,772,000 after buying an additional 629,644 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction on 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 directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on CVX shares. 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. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a research note on Monday, September 16th. DZ Bank upgraded 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. Citigroup raised Chevron from a "neutral" rating to a "buy" rating and upped their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, UBS Group lifted their price target on shares of Chevron from $194.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of "Moderate Buy" and an average target price of $177.13.

Chevron Trading Down 0.4 %

Shares of NYSE CVX traded down $0.69 during midday trading on Friday, reaching $154.02. The company had a trading volume of 3,774,935 shares, compared to its average volume of 7,663,333. The firm's fifty day moving average price is $155.29 and its 200-day moving average price is $152.46. 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 one year low of $135.37 and a one year high of $167.11. The stock has a market cap of $276.79 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 2.98 and a beta of 1.10.

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, beating 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 during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the firm posted $3.05 earnings per share. The business's quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

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

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.