XTX Topco Ltd Buys 42,667 Shares of Chevron Corporation $CVX

XTX Topco Ltd increased its position in shares of Chevron Corporation (NYSE:CVX) by 128.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,847 shares of the oil and gas company’s stock after buying an additional 42,667 shares during the period. Chevron comprises approximately 0.5% of XTX Topco Ltd’s holdings, making the stock its 14th largest holding. XTX Topco Ltd’s holdings in Chevron were worth $10,861,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd lifted its holdings in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares during the period. Elequin Capital LP acquired a new position in shares of Chevron during the first quarter valued at approximately $31,000. Quaker Wealth Management LLC grew its holdings in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares in the last quarter. IMG Wealth Management Inc. raised its position in shares of Chevron by 52.3% in 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, GFG Capital LLC purchased a new position in shares of Chevron in the second quarter worth about $42,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Scotiabank increased their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Piper Sandler lowered their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Evercore ISI reiterated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $166.55.

Chevron Price Performance

Shares of NYSE CVX opened at $149.79 on Tuesday. The company has a market cap of $301.61 billion, a PE ratio of 19.28, a P/E/G ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The stock has a fifty day moving average price of $154.68 and a 200 day moving average price of $151.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.48 EPS. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

Chevron Company 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.