Healthcare of Ontario Pension Plan Trust Fund Buys 338,200 Shares of Chevron Co. (NYSE:CVX)

Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Chevron Co. (NYSE:CVX) by 243.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 477,085 shares of the oil and gas company’s stock after purchasing an additional 338,200 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Chevron were worth $70,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Rational Advisors LLC bought a new position in Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $30,000. Anfield Capital Management LLC lifted its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. Finally, Krane Funds Advisors LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $47,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 1.3 %

CVX stock opened at $162.50 on Wednesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $292.03 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 3.54 and a beta of 1.09. The business has a 50 day moving average of $152.32 and a 200 day moving average of $152.49.

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 analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the company earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Truist Financial increased their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. UBS Group increased their price objective on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.