Choreo LLC Has $22.43 Million Position in Chevron Corporation $CVX

Choreo LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,461 shares of the oil and gas company’s stock after purchasing an additional 9,837 shares during the quarter. Choreo LLC’s holdings in Chevron were worth $22,433,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Weaver Consulting Group increased its position in shares of Chevron by 2.8% during the third quarter. Weaver Consulting Group now owns 6,860 shares of the oil and gas company’s stock worth $1,065,000 after acquiring an additional 187 shares in the last quarter. West Family Investments Inc. lifted its position in Chevron by 10.4% in the 3rd quarter. West Family Investments Inc. now owns 10,345 shares of the oil and gas company’s stock valued at $1,606,000 after acquiring an additional 971 shares in the last quarter. Private Capital Advisors Inc. boosted its stake in Chevron by 0.6% during the 3rd quarter. Private Capital Advisors Inc. now owns 16,284 shares of the oil and gas company’s stock valued at $2,529,000 after purchasing an additional 102 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in Chevron by 0.8% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 208,902 shares of the oil and gas company’s stock worth $32,440,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Advisor OS LLC raised its stake in shares of Chevron by 23.0% in the third quarter. Advisor OS LLC now owns 7,790 shares of the oil and gas company’s stock worth $1,210,000 after purchasing an additional 1,455 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CTO Thomas Ryder Booth sold 1,122 shares of Chevron stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $182.37, for a total value of $204,619.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alana K. Knowles sold 2,408 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total value of $441,338.24. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 534,898 shares of company stock valued at $89,543,711. Company insiders own 0.21% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $184.07 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $187.90. The company’s 50-day moving average is $168.75 and its 200 day moving average is $159.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The company has a market capitalization of $367.29 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 12.19 and a beta of 0.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 net margin of 6.51% and a return on equity of 7.89%. The business had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same quarter in the previous year, the firm posted $2.06 earnings per share. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.9%. This is a positive change from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s dividend payout ratio is currently 106.91%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. UBS Group reaffirmed a “buy” rating and set a $212.00 target price on shares of Chevron in a research report on Monday, February 2nd. Wells Fargo & Company upped their target price on shares of Chevron from $196.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. TD Cowen raised their price target on shares of Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Argus set a $203.00 price target on shares of Chevron in a report on Tuesday, February 3rd. Finally, Sanford C. Bernstein increased their price objective on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research note on Monday, January 5th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $176.36.

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.