150,042 Chevron Corporation $CVX Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,626,891 shares of the oil and gas company's stock after acquiring an additional 150,042 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Chevron worth $332,271,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Main Street Group LTD acquired a new stake in shares of Chevron during the 1st quarter worth approximately $28,000. Kilter Group LLC acquired a new position in shares of Chevron in the second quarter valued at $28,000. Principia Wealth Advisory LLC raised its stake in shares of Chevron by 49.6% in the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 60 shares in the last quarter. Strategic Wealth Advisors LLC acquired a new position in shares of Chevron in the second quarter valued at $33,000. Finally, Burk Holdings LLC acquired a new position in shares of Chevron in the second quarter valued at $42,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

Chevron stock opened at $216.64 on Friday. The stock has a 50-day simple moving average of $215.33 and a 200 day simple moving average of $195.33. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $236.48. The stock has a market capitalization of $425.78 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 0.50 and a beta of 0.47.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The business had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. During the same quarter last year, the business posted $1.85 earnings per share. Chevron's revenue for the quarter was up 36.3% compared to the same quarter last year. On average, research analysts anticipate that Chevron Corporation will post 18.64 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron's dividend payout ratio (DPR) is 52.08%.

Insider Activity

In other news, insider Andrew Walz sold 16,800 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares in the company, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Mark Nelson sold 112,000 shares of the company's stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $210.48, for a total value of $23,573,760.00. Following the transaction, the insider directly owned 11,647 shares in the company, valued at $2,451,460.56. This trade represents a 90.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 174,370 shares of company stock valued at $37,224,309. Company insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of Chevron from $226.00 to $230.00 and gave the stock an "overweight" rating in a research note on Monday, November 2nd. Piper Sandler increased their price objective on shares of Chevron from $207.00 to $243.00 and gave the company an "overweight" rating in a research note on Thursday, September 3rd. William Blair initiated coverage on shares of Chevron in a report on Wednesday, October 28th. They set an "outperform" rating for the company. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Argus upped their target price on shares of Chevron from $206.00 to $211.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $222.81.

Chevron News Summary

Here's some of the latest news about CVX:

• Positive Sentiment: Chevron’s third-quarter adjusted profit nearly tripled to $10.4 billion. Strong refining margins lifted downstream earnings 333%, and refineries ran at 98% capacity, helping offset a 2.6% decline in production. Coverage also cited record U.S. refinery throughput, strong cash flow and rising estimates. Article: Chevron’s Production Fell. Its Profit Nearly Tripled.
• Positive Sentiment: Chevron plans to restart its Ralston biodiesel facility in Iowa, supported by a feedstock supply agreement with Landus Cooperative. The move could add to its renewable-fuels activity, though the articles provided no financial contribution estimates. Article: Chevron to Restart Ralston Biodiesel Facility in Iowa
• Neutral Sentiment: Chevron has emphasized the importance of maintaining financial strength amid volatile oil prices. Uncertainty about the oil-market outlook could affect results, although the company’s integrated business and strong refining performance offer some diversification. Article: What Exxon, Chevron and Shell Said About Where Oil Goes Next

Chevron 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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.