Chevron Corporation $CVX Shares Acquired by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP lifted its position in Chevron Corporation (NYSE:CVX) by 3,717.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,526 shares of the oil and gas company’s stock after acquiring an additional 195,273 shares during the period. Brevan Howard Capital Management LP’s holdings in Chevron were worth $28,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Elequin Capital LP acquired a new stake in Chevron during the 1st quarter worth $31,000. Quaker Wealth Management LLC boosted its position in 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 acquiring an additional 439 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its stake in Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 118 shares in the last quarter. IMG Wealth Management Inc. raised its holdings in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares during the last quarter. Finally, 1 North Wealth Services LLC purchased a new position in Chevron in the 1st quarter worth approximately $45,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on CVX shares. Morgan Stanley increased their price target on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Piper Sandler reduced their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, December 1st. Finally, Bank of America dropped their price target on shares of Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $166.00.

Chevron Trading Down 0.5%

CVX opened at $149.95 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm has a market cap of $301.93 billion, a P/E ratio of 21.09, a P/E/G ratio of 8.95 and a beta of 0.68. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The business has a fifty day simple moving average of $152.74 and a 200-day simple moving average of $151.98.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were issued a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s payout ratio is 96.20%.

Insider Transactions 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 transaction of $41,456,250.00. Following the sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by company 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.