40,604 Chevron Corporation $CVX Shares Bought by Leuthold Group LLC

Leuthold Group LLC raised its holdings in Chevron Corporation (NYSE:CVX) by 1,627.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,099 shares of the oil and gas company’s stock after acquiring an additional 40,604 shares during the quarter. Leuthold Group LLC’s holdings in Chevron were worth $8,801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CVX. BlackRock Inc. bought a new stake in shares of Chevron in the 2nd quarter worth approximately $25,663,729,000. Bank of New York Mellon Corp bought a new stake in Chevron during the second quarter worth approximately $2,378,114,000. Legal & General Group Plc bought a new stake in Chevron during the second quarter worth approximately $1,462,412,000. Deutsche Bank AG bought a new stake in Chevron during the second quarter worth approximately $1,189,577,000. Finally, State Street Corp grew its position in Chevron by 3.9% in the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after buying an additional 5,998,852 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the sale, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 379,470 shares of company stock valued at $77,216,415. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Down 0.8%

NYSE:CVX opened at $210.91 on Tuesday. The firm has a market capitalization of $416.71 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.51 and a beta of 0.47. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $236.48. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $215.09 and its 200 day moving average price is $194.63.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. The company had revenue of $65.24 billion for the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a return on equity of 14.64% and a net margin of 11.56%. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 EPS. On average, sell-side analysts forecast that Chevron Corporation will post 18.56 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 52.08%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. HSBC set a $90.00 price objective on Chevron in a research report on Friday, September 25th. Piper Sandler lifted their target price on Chevron from $207.00 to $243.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Freedom Broker raised Chevron from a “sell” rating to a “hold” rating and set a $218.00 target price on the stock in a research report on Thursday, November 5th. Wells Fargo & Company boosted their target price on Chevron from $230.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $240.00 target price for the company. in a report on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $221.88.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.