Aigen Investment Management LP Acquires Shares of 8,484 Chevron Co. (NYSE:CVX)

Aigen Investment Management LP bought a new position in shares of Chevron Co. (NYSE:CVX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,484 shares of the oil and gas company’s stock, valued at approximately $1,249,000.

Other large investors also recently modified their holdings of the company. Rational Advisors LLC purchased a new stake in shares of Chevron in the 3rd quarter worth about $29,000. Anfield Capital Management LLC boosted its holdings in Chevron by 118.0% during 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 grew its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at $47,000. Finally, Livelsberger Financial Advisory purchased a new position in Chevron during the 3rd quarter valued at about $47,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

CVX stock opened at $155.30 on Wednesday. The business has a 50 day moving average price of $147.97 and a 200 day moving average price of $152.68. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $279.09 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 3.50 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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 paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company decreased their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Truist Financial boosted their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada boosted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price 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.