Russell Investments Group Ltd. Has $144.60 Million Position in Chevron Co. (NYSE:CVX)

Russell Investments Group Ltd. lowered its position in shares of Chevron Co. (NYSE:CVX) by 7.1% in the fourth quarter, Holdings Channel reports. The firm owned 969,316 shares of the oil and gas company’s stock after selling 73,676 shares during the period. Russell Investments Group Ltd.’s holdings in Chevron were worth $144,597,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in shares of Chevron in the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC acquired a new position in Chevron during the third quarter worth $43,000. Finally, Roble Belko & Company Inc boosted its holdings in Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Chevron Stock Performance

NYSE:CVX traded up $0.61 during mid-day trading on Friday, reaching $165.89. 9,736,350 shares of the company’s stock were exchanged, compared to its average volume of 7,082,480. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market capitalization of $308.10 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The business’s fifty day simple moving average is $156.58 and its two-hundred day simple moving average is $151.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business 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 earned $3.55 earnings per share. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. Chevron’s payout ratio is 57.39%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent research reports. Mizuho increased their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Finally, Piper Sandler upped their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $184.75.

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.