Whitnell & Co. grew its position in shares of Chevron Co. (NYSE:CVX) by 26.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,508 shares of the oil and gas company’s stock after acquiring an additional 4,682 shares during the quarter. Whitnell & Co.’s holdings in Chevron were worth $2,669,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in CVX. Guidant Wealth Advisors boosted its holdings in shares of Chevron by 63.9% in the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at approximately $34,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of Chevron in the 2nd quarter valued at approximately $46,000. Cordasco Financial Network boosted its holdings in shares of Chevron by 55.3% in the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 135 shares during the last quarter. Finally, CKW Financial Group boosted its holdings in shares of Chevron by 154.0% in the 2nd quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 251 shares during the last quarter. 65.68% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Joseph C. Geagea sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total value of $980,000.00. Following the completion of the transaction, the insider now directly owns 9,243 shares in the company, valued at approximately $1,132,267.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Pierre R. Breber sold 15,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $124.97, for a total value of $1,874,550.00. The disclosure for this sale can be found here. Insiders sold a total of 91,750 shares of company stock valued at $11,216,850 over the last quarter. Company insiders own 0.31% of the company’s stock.
NYSE CVX traded down $0.96 during trading on Friday, reaching $120.93. The company’s stock had a trading volume of 4,176,056 shares, compared to its average volume of 6,442,372. The stock has a market capitalization of $231.49 billion, a PE ratio of 14.66, a P/E/G ratio of 3.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91. The firm has a fifty day moving average of $117.65 and a 200 day moving average of $119.96. Chevron Co. has a one year low of $100.22 and a one year high of $127.34.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The firm had revenue of $36.12 billion during the quarter, compared to analysts’ expectations of $37.69 billion. During the same quarter in the previous year, the company posted $2.11 earnings per share. Chevron’s revenue for the quarter was down 17.9% compared to the same quarter last year. Research analysts expect that Chevron Co. will post 6.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Friday, November 15th. Chevron’s payout ratio is currently 57.70%.
Several equities research analysts have recently commented on CVX shares. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Cowen decreased their target price on Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Barclays initiated coverage on Chevron in a research note on Monday, August 19th. They issued an “overweight” rating and a $145.00 target price on the stock. Morgan Stanley decreased their target price on Chevron from $144.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, BMO Capital Markets initiated coverage on Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $135.88.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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