Gratus Capital LLC Decreases Position in Chevron Co. (NYSE:CVX)

Gratus Capital LLC lessened its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,651 shares of the oil and gas company’s stock after selling 673 shares during the period. Gratus Capital LLC’s holdings in Chevron were worth $1,818,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Andesa Financial Management Inc. raised its stake in Chevron by 49.4% in the 3rd quarter. Andesa Financial Management Inc. now owns 13,634 shares of the oil and gas company’s stock worth $1,959,000 after acquiring an additional 4,510 shares during the last quarter. Grandfield & Dodd LLC raised its stake in Chevron by 0.9% in the 3rd quarter. Grandfield & Dodd LLC now owns 133,568 shares of the oil and gas company’s stock worth $19,190,000 after acquiring an additional 1,221 shares during the last quarter. Wsfs Capital Management LLC raised its stake in Chevron by 2.7% in the 3rd quarter. Wsfs Capital Management LLC now owns 13,925 shares of the oil and gas company’s stock worth $2,001,000 after acquiring an additional 370 shares during the last quarter. Cypress Capital Management LLC raised its stake in Chevron by 0.6% in the 3rd quarter. Cypress Capital Management LLC now owns 46,934 shares of the oil and gas company’s stock worth $6,743,000 after acquiring an additional 293 shares during the last quarter. Finally, AMG National Trust Bank raised its stake in Chevron by 29.8% in the 3rd quarter. AMG National Trust Bank now owns 52,819 shares of the oil and gas company’s stock worth $7,588,000 after acquiring an additional 12,132 shares during the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVX shares. Mizuho lowered Chevron from a “buy” rating to a “neutral” rating and raised their target price for the stock from $185.00 to $200.00 in a research note on Tuesday, January 10th. Cowen increased their price target on Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. Barclays increased their price target on Chevron from $196.00 to $212.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. Citigroup increased their price target on Chevron from $155.00 to $180.00 in a research report on Tuesday, November 22nd. Finally, Morgan Stanley increased their price target on Chevron from $193.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $186.67.

Chevron Trading Down 0.1 %

CVX stock opened at $180.66 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $122.84 and a 12-month high of $189.68. The stock has a market cap of $349.33 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 0.81 and a beta of 1.18. The business’s 50-day moving average is $177.53 and its 200 day moving average is $165.74.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings data on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.54. Chevron had a return on equity of 22.36% and a net margin of 14.36%. The company had revenue of $66.64 billion for the quarter, compared to analysts’ expectations of $61.44 billion. During the same period in the previous year, the firm posted $2.96 EPS. Chevron’s revenue was up 49.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 18.91 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Thursday, November 17th. Chevron’s dividend payout ratio (DPR) is 32.31%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 55,380 shares of Chevron stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $185.09, for a total transaction of $10,250,284.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Chevron news, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total value of $5,830,380.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 55,380 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $185.09, for a total value of $10,250,284.20. The disclosure for this sale can be found here. Insiders have sold 293,563 shares of company stock valued at $53,186,421 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

About Chevron

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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