Hayek Kallen Investment Management increased its holdings in shares of Chevron Co. (NYSE:CVX) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,193 shares of the oil and gas company’s stock after buying an additional 832 shares during the period. Hayek Kallen Investment Management’s holdings in Chevron were worth $1,802,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CVX. First Financial Bank Trust Division grew its holdings in Chevron by 18.4% during the second quarter. First Financial Bank Trust Division now owns 74,960 shares of the oil and gas company’s stock valued at $9,328,000 after purchasing an additional 11,667 shares during the period. Private Trust Co. NA increased its position in shares of Chevron by 6.5% during the second quarter. Private Trust Co. NA now owns 42,640 shares of the oil and gas company’s stock worth $5,306,000 after purchasing an additional 2,617 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Chevron by 0.4% during the second quarter. Fulton Bank N.A. now owns 53,721 shares of the oil and gas company’s stock worth $6,685,000 after purchasing an additional 210 shares in the last quarter. Stillwater Investment Management LLC increased its position in shares of Chevron by 3.8% during the second quarter. Stillwater Investment Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $366,000 after purchasing an additional 109 shares in the last quarter. Finally, Ellenbecker Investment Group increased its position in Chevron by 8.7% in the 2nd quarter. Ellenbecker Investment Group now owns 2,847 shares of the oil and gas company’s stock valued at $354,000 after acquiring an additional 229 shares during the period. 65.68% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Morgan Stanley dropped their price target on Chevron from $144.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Cowen dropped their price target on Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. BMO Capital Markets assumed coverage on Chevron in a research report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Chevron from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, ValuEngine upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $135.88.
In other Chevron news, EVP Joseph C. Geagea sold 5,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $118.10, for a total value of $590,500.00. Following the completion of the transaction, the executive vice president now directly owns 6,243 shares of the company’s stock, valued at $737,298.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph C. Geagea sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total transaction of $980,000.00. Following the sale, the insider now directly owns 9,243 shares of the company’s stock, valued at $1,132,267.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,750 shares of company stock worth $11,216,850. 0.31% of the stock is owned by company insiders.
Shares of Chevron stock traded down $0.96 during midday trading on Friday, reaching $120.93. 4,176,056 shares of the company’s stock traded hands, compared to its average volume of 6,442,372. The company has a market cap 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. The company’s 50 day simple moving average is $117.65 and its 200 day simple moving average is $119.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $127.34.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The company had revenue of $36.12 billion during the quarter, compared to analyst estimates of $37.69 billion. During the same quarter in the prior year, the business earned $2.11 earnings per share. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, equities research analysts predict that Chevron Co. will post 6.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 3.94%. Chevron’s dividend payout ratio (DPR) is currently 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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