Global Retirement Partners LLC Raises Stake in Chevron Corporation $CVX

Global Retirement Partners LLC increased its stake in Chevron Corporation (NYSE:CVX) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,637 shares of the oil and gas company’s stock after buying an additional 5,010 shares during the period. Global Retirement Partners LLC’s holdings in Chevron were worth $10,193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Graham Capital Management L.P. bought a new position in Chevron in the 1st quarter worth about $594,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Chevron by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 223,844 shares of the oil and gas company’s stock valued at $37,436,000 after purchasing an additional 17,280 shares during the period. New England Asset Management Inc. boosted its holdings in shares of Chevron by 0.7% in the first quarter. New England Asset Management Inc. now owns 34,075 shares of the oil and gas company’s stock valued at $5,700,000 after purchasing an additional 225 shares during the period. Plancorp LLC grew its stake in Chevron by 3.9% in the first quarter. Plancorp LLC now owns 11,423 shares of the oil and gas company’s stock worth $1,911,000 after purchasing an additional 425 shares in the last quarter. Finally, Pinnacle Family Advisors LLC purchased a new position in Chevron during the 1st quarter worth $204,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $155.81 on Friday. The firm has a market capitalization of $313.73 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 9.76 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The business’s 50-day moving average is $151.88 and its two-hundred day moving average is $153.06. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share 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 for the quarter, compared to analysts’ expectations of $46.99 billion. During the same period last year, the business earned $2.48 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. Research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal 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 paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is 96.20%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 275,000 shares of the company’s 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 transaction, the director directly owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Barclays lowered their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. HSBC set a $169.00 price target on Chevron and gave the company a “buy” rating in a research note on Monday, December 1st. Raymond James Financial reaffirmed an “outperform” rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their target price on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. 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, 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.