Financiere des Professionnels Fonds d investissement inc. Buys Shares of 44,785 Chevron Corporation $CVX

Financiere des Professionnels Fonds d investissement inc. bought a new position in Chevron Corporation (NYSE:CVX) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 44,785 shares of the oil and gas company’s stock, valued at approximately $6,955,000.

Several other institutional investors have also made changes to their positions in the company. Berkshire Hathaway Inc lifted its stake in Chevron by 2.9% in the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after acquiring an additional 3,454,258 shares during the last quarter. Kingstone Capital Partners Texas LLC raised its holdings in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after purchasing an additional 1,342,723 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Chevron by 1.9% in the second quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock worth $2,982,190,000 after purchasing an additional 378,936 shares in the last quarter. Finally, Norges Bank acquired a new position in Chevron during the second quarter worth $2,721,477,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Scotiabank boosted their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Bank of America decreased their target price on Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Barclays decreased their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $166.00.

Chevron Stock Up 2.2%

Shares of CVX stock opened at $155.81 on Friday. The stock has a 50 day moving average of $151.88 and a 200-day moving average of $153.06. The firm has a market cap of $313.73 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 9.76 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.48 EPS. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.