KBC Group NV Purchases 8,915 Shares of Chevron Corporation $CVX

KBC Group NV lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,044 shares of the oil and gas company’s stock after buying an additional 8,915 shares during the quarter. KBC Group NV’s holdings in Chevron were worth $25,637,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Analyst IMS Investment Management Services Ltd. lifted its holdings in Chevron by 1.0% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after acquiring an additional 67 shares in the last quarter. Greenfield Savings Bank grew its stake in Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares in the last quarter. Atwater Malick LLC increased its holdings in Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after buying an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after purchasing an additional 68 shares during the period. Finally, Clarity Wealth Advisors LLC lifted its position in shares of Chevron by 1.7% in the second quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock valued at $597,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CVX shares. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Morgan Stanley upped their price target on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho raised their price objective on shares of Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays dropped their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $166.25.

Chevron Stock Performance

NYSE CVX opened at $155.42 on Friday. The stock has a fifty day simple moving average of $155.19 and a 200 day simple moving average of $150.10. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $312.95 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the prior year, the firm posted $2.48 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s payout ratio is currently 96.20%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

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.