Chevron Corporation $CVX Stock Holdings Lifted by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 19.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 73,448 shares of the oil and gas company’s stock after purchasing an additional 11,875 shares during the period. Perigon Wealth Management LLC’s holdings in Chevron were worth $11,406,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CVX. Berkshire Hathaway Inc lifted its position in Chevron by 2.9% in the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock worth $17,478,458,000 after buying an additional 3,454,258 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its stake in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after acquiring an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after purchasing an additional 1,342,723 shares during the last quarter. Fisher Asset Management LLC lifted its position in Chevron by 1.9% during the 2nd quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock worth $2,982,190,000 after acquiring an additional 378,936 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Chevron in the second quarter valued at about $2,721,477,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction that occurred 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 sale, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This trade 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 hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. Mizuho raised their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Morgan Stanley upped their price target on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Piper Sandler cut their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Finally, UBS Group restated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $166.00.

Chevron Stock Down 0.3%

Chevron stock opened at $150.06 on Monday. The company’s 50 day simple moving average is $152.11 and its 200 day simple moving average is $152.88. The firm has a market capitalization of $302.14 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 9.00 and a beta of 0.68. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating 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 business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the prior year, the company earned $2.48 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Chevron Company Profile

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.