Chevron Co. (NYSE:CVX) Position Boosted by RMB Capital Management LLC

RMB Capital Management LLC increased its holdings in Chevron Co. (NYSE:CVXGet Rating) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,313 shares of the oil and gas company’s stock after buying an additional 373 shares during the quarter. RMB Capital Management LLC’s holdings in Chevron were worth $7,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Chevron by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 32,250,237 shares of the oil and gas company’s stock worth $3,776,323,000 after buying an additional 667,875 shares in the last quarter. Norges Bank bought a new position in Chevron in the 4th quarter worth approximately $3,111,594,000. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,507,398 shares of the oil and gas company’s stock worth $1,702,446,000 after buying an additional 254,353 shares in the last quarter. Invesco Ltd. grew its holdings in Chevron by 6.8% in the 4th quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock worth $1,689,870,000 after buying an additional 917,773 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Chevron by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,326,228 shares of the oil and gas company’s stock valued at $977,069,000 after purchasing an additional 346,881 shares in the last quarter. 65.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Wells Fargo & Company increased their price target on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, August 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $172.00 price target on shares of Chevron in a research note on Thursday. Morgan Stanley increased their price target on Chevron from $185.00 to $190.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 19th. Truist Financial decreased their price target on Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research note on Tuesday, July 19th. Finally, Bank of America increased their price target on Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Activity at Chevron

In related news, insider David A. Inchausti sold 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total value of $923,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mark A. Nelson sold 117,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the sale, the executive vice president now owns 788 shares of the company’s stock, valued at approximately $125,662.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider David A. Inchausti sold 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $164.85, for a total value of $923,160.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 399,043 shares of company stock valued at $67,010,843. 0.32% of the stock is owned by corporate insiders.

Chevron Trading Up 1.7 %

NYSE:CVX opened at $153.64 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $182.40. The stock’s 50-day moving average is $154.37 and its two-hundred day moving average is $155.35. The stock has a market cap of $301.87 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last released its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The company had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. During the same quarter in the previous year, the business posted $1.71 EPS. The business’s revenue for the quarter was up 82.9% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 17.51 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be paid a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 annualized dividend and a yield of 3.70%. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Chevron Company Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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