Ethic Inc. Has $6.07 Million Position in Chevron Corporation $CVX

Ethic Inc. boosted its stake in Chevron Corporation (NYSE:CVX) by 40.6% in the third quarter, HoldingsChannel reports. The firm owned 39,062 shares of the oil and gas company’s stock after buying an additional 11,280 shares during the period. Ethic Inc.’s holdings in Chevron were worth $6,066,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quaker Wealth Management LLC grew its stake in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 439 shares during the period. Vermillion & White Wealth Management Group LLC boosted its holdings in Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 118 shares in the last quarter. IMG Wealth Management Inc. grew its stake in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares during the period. 1 North Wealth Services LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $45,000. Finally, GFG Capital LLC acquired a new position in shares of Chevron during the second quarter worth approximately $42,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of CVX opened at $150.95 on Tuesday. The stock has a 50 day moving average of $152.04 and a 200 day moving average of $152.92. The company has a market capitalization of $303.93 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 9.00 and a beta of 0.68. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the previous year, the firm earned $2.48 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Insiders Place Their Bets

In related news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several research reports. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Wells Fargo & Company raised their price objective on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. HSBC set a $169.00 target price on shares of Chevron and gave the stock a “buy” rating in a report on Monday, December 1st. Finally, Zacks Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and three have issued 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 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.