Russell Investments Group Ltd. Buys 36,531 Shares of Chevron Co. (NYSE:CVX)

Russell Investments Group Ltd. raised its position in Chevron Co. (NYSE:CVX) by 3.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,043,992 shares of the oil and gas company’s stock after buying an additional 36,531 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Chevron worth $151,203,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Chevron in the 4th quarter worth $3,017,750,000. Raymond James Financial Inc. acquired a new stake in Chevron in the fourth quarter worth $1,036,302,000. Bank of New York Mellon Corp grew its holdings in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after buying an additional 2,432,756 shares during the period. Amundi raised its stake in Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Chevron by 22,996.9% during the 4th quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company’s stock valued at $122,741,000 after purchasing an additional 843,756 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $143.10 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $168.96. The company has a 50-day simple moving average of $157.38 and a two-hundred day simple moving average of $154.10. The stock has a market capitalization of $251.95 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. 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 (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the company earned $3.45 EPS. Analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.78%. Chevron’s dividend payout ratio is presently 70.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays reduced their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.