Fulcrum Asset Management LLP Sells 14,763 Shares of Chevron Corporation $CVX

Fulcrum Asset Management LLP reduced its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 44.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,192 shares of the oil and gas company's stock after selling 14,763 shares during the period. Fulcrum Asset Management LLP's holdings in Chevron were worth $3,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Chevron by 3.9% during the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company's stock valued at $28,016,651,000 after purchasing an additional 5,998,852 shares during the last quarter. BlackRock Inc. bought a new position in shares of Chevron during the second quarter valued at $25,663,729,000. Bank of America Corp DE lifted its holdings in shares of Chevron by 5.1% during the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company's stock worth $5,716,694,000 after purchasing an additional 1,334,976 shares during the period. Amundi lifted its holdings in shares of Chevron by 3.0% during the first quarter. Amundi now owns 12,185,436 shares of the oil and gas company's stock worth $2,521,166,000 after purchasing an additional 349,416 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Chevron in the second quarter worth $2,378,114,000. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Chevron news, CEO Michael Wirth sold 317,100 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $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 accessible through this link. Also, insider Andrew Walz sold 16,800 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 14 shares of the company's stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 379,470 shares of company stock worth $77,216,415. Corporate insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Sanford C. Bernstein lifted their target price on Chevron from $204.00 to $209.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Barclays increased their price target on Chevron from $208.00 to $244.00 and gave the company an "equal weight" rating in a research note on Monday, November 2nd. Raymond James Financial lowered their price objective on Chevron from $230.00 to $225.00 and set an "outperform" rating for the company in a research report on Tuesday, July 21st. Argus lifted their price objective on Chevron from $206.00 to $211.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, TD Cowen upped their target price on Chevron from $215.00 to $225.00 and gave the company a "hold" rating in a report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Chevron has a consensus rating of "Moderate Buy" and an average price target of $221.88.

Chevron Stock Performance

CVX stock opened at $210.91 on Tuesday. The firm has a market cap of $416.71 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 0.51 and a beta of 0.47. 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 stock has a 50-day moving average price of $215.09 and a 200-day moving average price of $194.63. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $236.48.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.87 by $0.41. Chevron had a return on equity of 14.64% and a net margin of 11.56%. The company had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. During the same quarter in the prior year, the company earned $1.85 EPS. The firm's revenue for the quarter was up 36.3% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Corporation will post 18.56 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 annualized dividend and a yield of 3.4%. Chevron's payout ratio is 52.08%.

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.

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