Towerpoint Wealth LLC lessened its stake in Chevron Co. (NYSE:CVX) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,107 shares of the oil and gas company’s stock after selling 300 shares during the period. Chevron makes up approximately 1.1% of Towerpoint Wealth LLC’s holdings, making the stock its 22nd largest position. Towerpoint Wealth LLC’s holdings in Chevron were worth $1,554,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. First Financial Bank Trust Division lifted its position in shares of Chevron by 18.4% during the 2nd quarter. First Financial Bank Trust Division now owns 74,960 shares of the oil and gas company’s stock worth $9,328,000 after buying an additional 11,667 shares during the last quarter. Private Trust Co. NA raised its stake in Chevron by 6.5% during the 2nd quarter. Private Trust Co. NA now owns 42,640 shares of the oil and gas company’s stock worth $5,306,000 after buying an additional 2,617 shares during the period. Fulton Bank N.A. raised its stake in Chevron by 0.4% during the 2nd quarter. Fulton Bank N.A. now owns 53,721 shares of the oil and gas company’s stock worth $6,685,000 after buying an additional 210 shares during the period. Stillwater Investment Management LLC raised its stake in Chevron by 3.8% during the 2nd quarter. Stillwater Investment Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $366,000 after buying an additional 109 shares during the period. Finally, Ellenbecker Investment Group raised its stake in Chevron by 8.7% during the 2nd quarter. Ellenbecker Investment Group now owns 2,847 shares of the oil and gas company’s stock worth $354,000 after buying an additional 229 shares during the period. 65.68% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $125.00, for a total value of $4,218,750.00. Following the transaction, the chief executive officer now owns 33,750 shares in the company, valued at $4,218,750. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Inchausti sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $119.89, for a total value of $1,798,350.00. Following the completion of the transaction, the insider now owns 15,000 shares in the company, valued at approximately $1,798,350. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,750 shares of company stock valued at $11,216,850. 0.31% of the stock is currently owned by corporate insiders.
Shares of CVX stock traded down $0.96 during trading on Friday, hitting $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 company has a market cap 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 current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $117.65 and a 200-day moving average of $119.96. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $127.34.
Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.11). The business had revenue of $36.12 billion during the quarter, compared to the consensus estimate of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. The business’s revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.11 earnings per share. As a group, research analysts predict that Chevron Co. will post 6.25 EPS for the current year.
The firm also recently announced 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 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Friday, November 15th. Chevron’s dividend payout ratio is presently 57.70%.
CVX has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Chevron from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Independent Research set a $127.00 price target on Chevron and gave the stock a “neutral” rating in a research note on Thursday, August 29th. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Cowen decreased their price objective on Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, BMO Capital Markets began coverage on Chevron in a report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price objective for the company. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Chevron has an average rating of “Buy” and an average price target of $135.88.
Chevron Company Profile
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.
See Also: Cash Flow
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.