Symmetry Partners LLC Buys Shares of 3,397 Chevron Corporation $CVX

Symmetry Partners LLC purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,397 shares of the oil and gas company’s stock, valued at approximately $528,000.

Several other hedge funds have also made changes to their positions in CVX. Quaker Wealth Management LLC increased its position in Chevron by 197.7% in 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 during the period. Vermillion & White Wealth Management Group LLC boosted 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 acquiring an additional 118 shares during the period. IMG Wealth Management Inc. grew 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 worth $38,000 after acquiring an additional 91 shares during the last quarter. GFG Capital LLC bought a new position in shares of Chevron during the second quarter worth about $42,000. Finally, LFA Lugano Financial Advisors SA increased its stake in shares of Chevron by 106.7% in the second quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 160 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several recent analyst reports. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Mizuho raised their price target on Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Morgan Stanley lifted their price objective on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Barclays decreased their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Finally, Piper Sandler lowered their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $166.00.

Chevron Trading Down 0.0%

Shares of CVX stock opened at $150.50 on Thursday. The stock has a 50-day simple moving average of $152.20 and a 200 day simple moving average of $152.71. The stock has a market capitalization of $303.03 billion, a P/E ratio of 21.17, a P/E/G ratio of 9.03 and a beta of 0.68. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. 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 (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same period in the previous year, the business earned $2.48 earnings per share. Chevron’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio is currently 96.20%.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 275,000 shares of Chevron 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 transaction, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

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.