Friedenthal Financial Makes New Investment in Chevron Corporation $CVX

Friedenthal Financial bought a new stake in Chevron Corporation (NYSE:CVX) during the 3rd quarter, Holdings Channel reports. The firm bought 5,971 shares of the oil and gas company’s stock, valued at approximately $927,000.

Other large investors have also modified their holdings of the company. PKS Advisory Services LLC increased its stake in shares of Chevron by 3.5% during the first quarter. PKS Advisory Services LLC now owns 2,334 shares of the oil and gas company’s stock worth $389,000 after acquiring an additional 78 shares during the period. TCM Advisors LLC increased its position in Chevron by 1.1% during the 1st quarter. TCM Advisors LLC now owns 9,300 shares of the oil and gas company’s stock worth $1,556,000 after purchasing an additional 100 shares during the period. Warwick Investment Management Inc. acquired a new position in Chevron during the 1st quarter worth approximately $507,000. Ieq Capital LLC raised its stake in shares of Chevron by 14.2% during the 1st quarter. Ieq Capital LLC now owns 106,883 shares of the oil and gas company’s stock worth $17,881,000 after buying an additional 13,283 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its holdings in shares of Chevron by 4.7% in the 1st quarter. CreativeOne Wealth LLC now owns 41,643 shares of the oil and gas company’s stock valued at $6,966,000 after buying an additional 1,876 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $150.50 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business’s fifty day moving average price is $152.20 and its two-hundred day moving average price is $152.71. The stock has a market cap of $303.03 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 9.03 and a beta of 0.68.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter last year, the business posted $2.48 EPS. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were issued a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s payout ratio is 96.20%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CVX shares. Zacks Research lowered Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays reduced their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Bank of America lowered their target price on shares of Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Finally, Scotiabank lifted their price target on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Hold” and a consensus price target of $166.00.

Insider Activity

In other news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by company insiders.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.