Chevron Corporation $CVX Shares Acquired by Continuum Advisory LLC

Continuum Advisory LLC increased its stake in shares of Chevron Corporation (NYSE:CVX) by 19.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,203 shares of the oil and gas company’s stock after buying an additional 3,466 shares during the quarter. Continuum Advisory LLC’s holdings in Chevron were worth $3,293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC boosted its holdings in Chevron by 19.3% during the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock worth $11,406,000 after buying an additional 11,875 shares in the last quarter. Solitude Financial Services raised its position in shares of Chevron by 8.2% in the second quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock worth $3,626,000 after acquiring an additional 1,913 shares during the period. Shell Asset Management Co. raised its position in shares of Chevron by 21.4% in the second quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock worth $7,319,000 after acquiring an additional 9,002 shares during the period. Mutual Advisors LLC boosted its stake 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 acquiring an additional 6,058 shares in the last quarter. Finally, Costello Asset Management INC grew its position in shares of 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 valued at $2,390,000 after acquiring an additional 3,541 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.9%

Shares of CVX opened at $152.31 on Wednesday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average is $152.01 and its two-hundred day moving average is $152.97. The stock has a market cap of $306.69 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 9.06 and a beta of 0.68.

Chevron (NYSE:CVX) last issued its earnings results 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. The business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.48 earnings per share. Research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CVX shares. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler reduced their target price on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Barclays cut their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Bank of America decreased their price objective on shares of Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. One 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 given a Sell rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $166.00.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 275,000 shares of the company’s 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 completion of the sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

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.