Notis McConarty Edward boosted its stake in shares of Chevron Co. (NYSE:CVX) by 9.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,537 shares of the oil and gas company’s stock after buying an additional 1,300 shares during the quarter. Notis McConarty Edward’s holdings in Chevron were worth $1,724,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Guidant Wealth Advisors boosted its stake in Chevron by 63.9% during the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after buying an additional 101 shares during the period. Evolution Wealth Advisors LLC purchased a new position in Chevron during the second quarter worth about $34,000. Transamerica Financial Advisors Inc. purchased a new position in Chevron during the second quarter worth about $46,000. Cordasco Financial Network boosted its stake in Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after buying an additional 135 shares during the period. Finally, CKW Financial Group boosted its stake in Chevron by 154.0% during the second quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock worth $51,000 after buying an additional 251 shares during the period. 65.68% of the stock is owned by institutional investors.
Several research analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price objective for the company. Cowen lowered their price objective on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Independent Research set a $127.00 price objective on shares of Chevron and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley lowered their price objective on shares of Chevron from $144.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Chevron presently has a consensus rating of “Buy” and an average target price of $135.88.
In related news, insider Joseph C. Geagea sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total value of $980,000.00. Following the sale, the insider now owns 9,243 shares of the company’s stock, valued at $1,132,267.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 33,750 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the completion of the sale, the chief executive officer now directly owns 33,750 shares in the company, valued at approximately $4,218,750. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,750 shares of company stock worth $11,216,850. 0.31% of the stock is owned by corporate insiders.
NYSE:CVX traded down $0.96 during mid-day trading on Friday, hitting $120.93. The stock had a trading volume of 4,223,607 shares, compared to its average volume of 6,442,372. The stock has a 50-day simple moving average of $117.65 and a two-hundred day simple moving average of $119.96. The company has a market capitalization of $231.49 billion, a PE ratio of 14.66, a PEG ratio of 3.25 and a beta of 0.99. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $127.34. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.
Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.11). The firm had revenue of $36.12 billion during the quarter, compared to analyst estimates of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. The firm’s revenue was down 17.9% compared to the same quarter last year. During the same period last year, the business earned $2.11 EPS. Sell-side analysts predict that Chevron Co. will post 6.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.19 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.76 annualized dividend and a yield of 3.94%. Chevron’s dividend payout ratio (DPR) is 57.70%.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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