Russell Investments Group Ltd. Acquires 55,415 Shares of Chevron Co. (NYSE:CVX)

Russell Investments Group Ltd. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 5.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,024,731 shares of the oil and gas company’s stock after purchasing an additional 55,415 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Chevron worth $161,622,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Central Bank & Trust Co. boosted its position in Chevron by 3.7% during the 4th quarter. Central Bank & Trust Co. now owns 6,654 shares of the oil and gas company’s stock worth $992,000 after acquiring an additional 240 shares during the last quarter. Capital Asset Advisory Services LLC boosted its position in Chevron by 9.5% during the 4th quarter. Capital Asset Advisory Services LLC now owns 21,810 shares of the oil and gas company’s stock worth $3,253,000 after acquiring an additional 1,894 shares during the last quarter. Purus Wealth Management LLC boosted its position in Chevron by 8.2% during the 4th quarter. Purus Wealth Management LLC now owns 3,556 shares of the oil and gas company’s stock worth $530,000 after acquiring an additional 271 shares during the last quarter. Osher Van de Voorde Investment Management boosted its position in Chevron by 28.1% during the 4th quarter. Osher Van de Voorde Investment Management now owns 124,292 shares of the oil and gas company’s stock worth $18,539,000 after acquiring an additional 27,292 shares during the last quarter. Finally, Northside Capital Management LLC boosted its position in Chevron by 9.3% during the 4th quarter. Northside Capital Management LLC now owns 11,789 shares of the oil and gas company’s stock worth $1,758,000 after acquiring an additional 1,000 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Piper Sandler increased their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Truist Financial increased their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. UBS Group raised their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Mizuho raised their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $186.22.

Chevron Trading Up 1.4 %

Shares of CVX stock traded up $2.25 during mid-day trading on Wednesday, reaching $160.02. 2,043,574 shares of the stock traded hands, compared to its average volume of 7,865,369. The stock’s fifty day simple moving average is $157.57 and its two-hundred day simple moving average is $155.22. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market cap of $294.91 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 2.40 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the firm posted $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 13.18 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $45,540. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock valued at $2,727,971 over the last ninety days. 0.20% of the stock is owned by company insiders.

Chevron 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.