Paradiem LLC Increases Stock Position in Chevron Corporation $CVX

Paradiem LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 416.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,433 shares of the oil and gas company’s stock after acquiring an additional 5,994 shares during the period. Paradiem LLC’s holdings in Chevron were worth $1,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Solitude Financial Services grew its position in Chevron by 8.2% during the second quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock valued at $3,626,000 after acquiring an additional 1,913 shares during the period. Shell Asset Management Co. lifted its stake in shares of Chevron by 21.4% in the 2nd quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock valued at $7,319,000 after purchasing an additional 9,002 shares in the last quarter. Mutual Advisors LLC grew its holdings in shares of Chevron by 7.3% during the 2nd quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after purchasing an additional 6,058 shares during the period. Costello Asset Management INC increased its position in Chevron by 26.9% during the 2nd quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock worth $2,390,000 after purchasing an additional 3,541 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in Chevron by 25.7% during the 1st quarter. Jones Financial Companies Lllp now owns 697,011 shares of the oil and gas company’s stock worth $115,887,000 after purchasing an additional 142,662 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were 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 in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Down 0.3%

NYSE CVX opened at $150.06 on Monday. The company has a market capitalization of $302.14 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 9.00 and a beta of 0.68. The company’s fifty day moving average price is $152.11 and its two-hundred day moving average price is $152.88. 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 Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

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

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVX. Zacks Research upgraded shares of Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Wells Fargo & Company upped their price target on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Mizuho raised their price objective on Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Hsbc Global Res upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $166.00.

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.