Alpha Omega Wealth Management LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 2.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 33,953 shares of the oil and gas company’s stock after buying an additional 868 shares during the period. Chevron comprises about 2.0% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 8th largest holding. Alpha Omega Wealth Management LLC’s holdings in Chevron were worth $3,989,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. purchased a new stake in shares of Chevron during the 2nd quarter valued at approximately $106,000. Winfield Associates Inc. raised its position in Chevron by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after purchasing an additional 63 shares during the period. Daiwa SB Investments Ltd. raised its position in Chevron by 438.5% in the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 1,140 shares during the period. Acrospire Investment Management LLC raised its position in Chevron by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 800 shares during the period. Finally, Accurate Investment Solutions Inc. raised its position in Chevron by 59.1% in the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 502 shares during the period. Institutional investors and hedge funds own 63.72% of the company’s stock.
In other news, EVP Michael K. Wirth sold 110,771 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total value of $12,868,267.07. Following the transaction, the executive vice president now owns 110,771 shares of the company’s stock, valued at approximately $12,868,267.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pierre R. Breber sold 23,250 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the transaction, the insider now directly owns 42,182 shares in the company, valued at approximately $5,019,658. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 264,021 shares of company stock worth $30,619,037. 0.38% of the stock is currently owned by insiders.
Shares of Chevron Co. (CVX) traded up $0.48 during midday trading on Monday, reaching $113.98. 8,358,207 shares of the company were exchanged, compared to its average volume of 7,450,000. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $133.88. The firm has a market capitalization of $216,490.00, a price-to-earnings ratio of 23.55, a P/E/G ratio of 2.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04.
Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). The firm had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. analysts anticipate that Chevron Co. will post 6.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a yield of 3.93%. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio (DPR) is currently 89.26%.
Several research firms have commented on CVX. Vetr downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target for the company. in a research note on Thursday, January 11th. Credit Suisse Group initiated coverage on shares of Chevron in a research note on Monday, December 11th. They issued a “neutral” rating and a $123.00 price target for the company. TheStreet upgraded shares of Chevron from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Wells Fargo & Co reiterated a “market perform” rating on shares of Chevron in a research note on Thursday, October 19th. They noted that the move was a valuation call. Finally, BMO Capital Markets downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 target price for the company. in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and a consensus price target of $130.30.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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