Front Barnett Associates LLC raised its stake in Chevron Co. (NYSE:CVX) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,232 shares of the oil and gas company’s stock after purchasing an additional 3,385 shares during the quarter. Chevron comprises about 2.3% of Front Barnett Associates LLC’s investment portfolio, making the stock its 14th biggest position. Front Barnett Associates LLC’s holdings in Chevron were worth $13,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in CVX. Fayerweather Charles increased its position in shares of Chevron by 25.0% during the third quarter. Fayerweather Charles now owns 3,255 shares of the oil and gas company’s stock worth $387,000 after acquiring an additional 650 shares during the last quarter. Montag A & Associates Inc. increased its position in shares of Chevron by 1.0% during the third quarter. Montag A & Associates Inc. now owns 97,112 shares of the oil and gas company’s stock worth $11,517,000 after acquiring an additional 935 shares during the last quarter. Thompson Investment Management Inc. increased its position in shares of Chevron by 0.9% during the third quarter. Thompson Investment Management Inc. now owns 36,843 shares of the oil and gas company’s stock worth $4,370,000 after acquiring an additional 314 shares during the last quarter. First Trust Advisors LP increased its position in shares of Chevron by 3.1% during the third quarter. First Trust Advisors LP now owns 1,493,739 shares of the oil and gas company’s stock worth $177,157,000 after acquiring an additional 45,076 shares during the last quarter. Finally, Managed Asset Portfolios LLC increased its position in shares of Chevron by 5.6% during the third quarter. Managed Asset Portfolios LLC now owns 2,313 shares of the oil and gas company’s stock worth $274,000 after acquiring an additional 123 shares during the last quarter. 65.68% of the stock is currently owned by institutional investors.
NYSE:CVX traded down $0.96 during mid-day trading on Friday, reaching $120.93. The stock had a trading volume of 4,223,607 shares, compared to its average volume of 6,442,372. The company has a market capitalization of $231.49 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 3.25 and a beta of 0.99. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.34. The stock’s 50 day simple moving average is $117.65 and its two-hundred day simple moving average is $119.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing the Zacks’ 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 return on equity of 8.89% and a net margin of 8.70%. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter last year, the business posted $2.11 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 6.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.19 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 dividend on an annualized basis and a yield of 3.94%. Chevron’s dividend payout ratio (DPR) is 57.70%.
In other Chevron news, CEO Michael K. Wirth sold 33,750 shares of Chevron stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $125.00, for a total value of $4,218,750.00. Following the completion of the transaction, the chief executive officer now directly owns 33,750 shares in the company, valued at $4,218,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Inchausti sold 15,000 shares of Chevron stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $119.89, for a total value of $1,798,350.00. Following the completion of the transaction, the insider now owns 15,000 shares of the company’s stock, valued at $1,798,350. The disclosure for this sale can be found here. Insiders sold 91,750 shares of company stock valued at $11,216,850 over the last quarter. Insiders own 0.31% of the company’s stock.
A number of brokerages have recently issued reports on CVX. BMO Capital Markets began coverage on Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Chevron from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Monday. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Independent Research set a $127.00 target price on Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley dropped their target price on Chevron from $144.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Chevron has an average rating of “Buy” and an average target price of $135.88.
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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