M&G PLC Purchases 4,073 Shares of Chevron Corporation $CVX

M&G PLC grew its position in Chevron Corporation (NYSE:CVX) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 129,650 shares of the oil and gas company’s stock after buying an additional 4,073 shares during the period. M&G PLC’s holdings in Chevron were worth $20,096,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CVX. Quaker Wealth Management LLC boosted its stake in Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Chevron during the third quarter valued at $34,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. IMG Wealth Management Inc. boosted its position in shares of Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 91 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new stake in Chevron in the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, CFO Eimear P. Bonner sold 32,100 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $175.01, for a total value of $5,617,821.00. Following the completion of the transaction, the chief financial officer directly owned 4,366 shares in the company, valued at $764,093.66. This represents a 88.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 320,700 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the sale, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at approximately $2,355,205.50. This trade represents a 95.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 793,163 shares of company stock worth $127,920,502. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 0.7%

CVX opened at $183.65 on Tuesday. The firm’s 50 day simple moving average is $163.21 and its two-hundred day simple moving average is $157.68. The company has a market capitalization of $369.79 billion, a PE ratio of 27.58, a PEG ratio of 12.16 and a beta of 0.70. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $186.52. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 8.23% and a net margin of 6.51%.The firm had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. During the same period in the prior year, the business posted $2.06 EPS. Chevron’s revenue was down 10.2% on a year-over-year basis. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. This is an increase from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s dividend payout ratio is 102.70%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CVX shares. Freedom Capital downgraded shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. TD Cowen increased their price objective on shares of Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Barclays increased their price target on Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Finally, UBS Group reaffirmed a “buy” rating and issued a $212.00 price objective on shares of Chevron in a report on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $175.00.

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.