Rockefeller Capital Management L.P. Has $165.21 Million Stake in Chevron Co. (NYSE:CVX)

Rockefeller Capital Management L.P. cut its position in shares of Chevron Co. (NYSE:CVX) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,121,761 shares of the oil and gas company’s stock after selling 6,650 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.06% of Chevron worth $165,211,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Montz Harcus Wealth Management LLC boosted its position in Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its stake in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares during the period. Tacita Capital Inc boosted its holdings in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after buying an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after buying an additional 67 shares during the last quarter. Finally, S.A. Mason LLC increased its holdings in Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

CVX stock opened at $162.11 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock has a market cap of $291.33 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $153.03 and its 200 day moving average is $152.62.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the company posted $3.05 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Truist Financial increased their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. UBS Group increased their price target on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Barclays upped their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.56.

About Chevron

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.