Chevron Co. (NYSE:CVX) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in Chevron Co. (NYSE:CVX) by 429.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,477 shares of the oil and gas company’s stock after purchasing an additional 199,148 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Chevron were worth $36,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in shares of Chevron by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 449,683 shares of the oil and gas company’s stock valued at $66,225,000 after buying an additional 47,747 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Chevron by 93.6% during the third quarter. Segall Bryant & Hamill LLC now owns 125,646 shares of the oil and gas company’s stock worth $18,504,000 after purchasing an additional 60,750 shares during the last quarter. Prospera Private Wealth LLC increased its position in shares of Chevron by 404.8% during the third quarter. Prospera Private Wealth LLC now owns 52,012 shares of the oil and gas company’s stock worth $7,660,000 after purchasing an additional 41,709 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Chevron in the 3rd quarter valued at about $10,959,000. Finally, Banque Cantonale Vaudoise boosted its position in shares of Chevron by 13.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 72,017 shares of the oil and gas company’s stock valued at $10,606,000 after purchasing an additional 8,772 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.7 %

NYSE:CVX opened at $159.61 on Wednesday. Chevron Co. has a 52-week low of $135.37 and a 52-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 fifty day simple moving average of $150.23 and a 200-day simple moving average of $152.57. The company has a market capitalization of $286.83 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business 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%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $3.05 EPS. On average, equities research analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. UBS Group raised their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Finally, Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.93.

Insiders Place Their Bets

In other 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 value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

About Chevron

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.