Worthington Financial Partners LLC Acquires Shares of 2,924 Chevron Corporation $CVX

Worthington Financial Partners LLC acquired a new stake in Chevron Corporation (NYSE:CVX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,924 shares of the oil and gas company’s stock, valued at approximately $446,000.

A number of other hedge funds have also modified their holdings of the stock. Dakota Wealth Management raised its stake in shares of Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock worth $12,690,000 after acquiring an additional 10,822 shares during the last quarter. Brooklyn FI LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $431,000. Clear Trail Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $10,167,000. Finemark National Bank & Trust increased its holdings in shares of Chevron by 40.3% in the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after purchasing an additional 16,243 shares in the last quarter. Finally, Curtis Advisory Group LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $1,381,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 380,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 615,200 shares of company stock worth $118,022,760 in the last ninety days. 0.56% of the stock is currently owned by company insiders.

Chevron Trading Down 0.1%

NYSE CVX opened at $173.51 on Friday. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The stock has a 50-day simple moving average of $186.63 and a 200 day simple moving average of $179.01. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $345.56 billion, a PE ratio of 30.07, a P/E/G ratio of 0.57 and a beta of 0.48.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.18 earnings per share. Research analysts forecast that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. Chevron’s dividend payout ratio is currently 123.40%.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Scotiabank upped their price objective on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Wells Fargo & Company upped their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a research note on Friday, April 17th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.70.

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.