Cassaday & Co Wealth Management LLC Buys 3,615 Shares of Chevron Corporation $CVX

Cassaday & Co Wealth Management LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 25.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,622 shares of the oil and gas company’s stock after buying an additional 3,615 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Chevron were worth $2,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quaker Wealth Management LLC raised its holdings in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. Decker Retirement Planning Inc. bought a new stake in Chevron in the 3rd quarter worth about $34,000. Vermillion & White Wealth Management Group LLC increased its stake in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 118 shares during the last quarter. Marquette Asset Management LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $41,000. Finally, IMG Wealth Management Inc. boosted its stake in shares of Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, Vice Chairman Mark A. Nelson sold 45,800 shares of Chevron stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $174.17, for a total transaction of $7,976,986.00. Following the completion of the sale, the insider owned 7,161 shares of the company’s stock, valued at approximately $1,247,231.37. This trade represents a 86.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eimear P. Bonner sold 32,100 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $175.01, for a total value of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at approximately $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 793,163 shares of company stock worth $127,920,502 in the last ninety days. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $183.65 on Tuesday. The firm has a market capitalization of $369.79 billion, a P/E ratio of 27.58, a PEG ratio of 12.16 and a beta of 0.70. Chevron Corporation has a one year low of $132.04 and a one year high of $186.52. 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 has a fifty day moving average price of $163.21 and a 200-day moving average price of $157.68.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 8.23% and a net margin of 6.51%.The business had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same quarter last year, the company earned $2.06 EPS. The firm’s revenue was down 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be paid a dividend of $1.78 per share. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s dividend payout ratio is presently 102.70%.

Analysts Set New Price Targets

A number of analysts recently commented on CVX shares. Sanford C. Bernstein increased their price target on Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research report on Monday, January 5th. Scotiabank reaffirmed a “sector perform” rating and set a $168.00 target price on shares of Chevron in a research report on Friday, January 16th. TD Cowen lifted their target price on Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Mizuho boosted their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Citigroup decreased their price objective on shares of Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a report on Monday, January 5th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $175.00.

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.