Chevron Corporation $CVX Shares Bought by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC raised its position in Chevron Corporation (NYSE:CVX) by 15.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 26,669 shares of the oil and gas company’s stock after acquiring an additional 3,580 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Chevron were worth $4,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LeConte Wealth Management LLC increased its stake in shares of Chevron by 82.9% during the third quarter. LeConte Wealth Management LLC now owns 4,162 shares of the oil and gas company’s stock worth $646,000 after acquiring an additional 1,887 shares during the period. Howard Capital Management Group LLC boosted its holdings in Chevron by 29.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 5,593 shares of the oil and gas company’s stock valued at $869,000 after purchasing an additional 1,279 shares in the last quarter. Connective Portfolio Management LLC acquired a new position in Chevron during the 3rd quarter worth approximately $1,144,000. Stockman Wealth Management Inc. raised its stake in shares of Chevron by 2.8% during the 3rd quarter. Stockman Wealth Management Inc. now owns 78,668 shares of the oil and gas company’s stock worth $12,216,000 after buying an additional 2,170 shares in the last quarter. Finally, New Hampshire Trust lifted its holdings in shares of Chevron by 5.2% in the 3rd quarter. New Hampshire Trust now owns 12,176 shares of the oil and gas company’s stock valued at $1,891,000 after buying an additional 598 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $150.06 on Friday. The firm has a market capitalization of $302.14 billion, a PE ratio of 21.10, a P/E/G ratio of 9.00 and a beta of 0.68. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm’s 50-day simple moving average is $152.11 and its 200 day simple moving average is $152.83. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19.

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

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. Chevron’s dividend payout ratio is presently 96.20%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CVX. Bank of America dropped their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Mizuho upped their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Piper Sandler reduced their price objective on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. Scotiabank boosted their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, Hsbc Global Res upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Hold” and a consensus target price of $166.00.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the sale, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

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.