Valmark Advisers Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,628 shares of the oil and gas company’s stock after acquiring an additional 503 shares during the period. Valmark Advisers Inc.’s holdings in Chevron were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Murphy Middleton Hinkle & Parker Inc. increased its position in shares of Chevron by 0.6% in the second quarter. Murphy Middleton Hinkle & Parker Inc. now owns 14,149 shares of the oil and gas company’s stock valued at $1,761,000 after acquiring an additional 84 shares during the last quarter. Arlington Financial Advisors LLC increased its position in shares of Chevron by 0.4% in the second quarter. Arlington Financial Advisors LLC now owns 20,221 shares of the oil and gas company’s stock valued at $2,516,000 after acquiring an additional 85 shares during the last quarter. Horan Capital Advisors LLC. increased its position in shares of Chevron by 2.6% in the third quarter. Horan Capital Advisors LLC. now owns 3,311 shares of the oil and gas company’s stock valued at $393,000 after acquiring an additional 85 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC increased its position in shares of Chevron by 1.7% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,051 shares of the oil and gas company’s stock valued at $631,000 after acquiring an additional 86 shares during the last quarter. Finally, JNBA Financial Advisors increased its position in shares of Chevron by 1.6% in the second quarter. JNBA Financial Advisors now owns 5,604 shares of the oil and gas company’s stock valued at $697,000 after acquiring an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 65.75% of the company’s stock.
Shares of Chevron stock traded down $1.46 on Friday, hitting $120.50. The stock had a trading volume of 2,994,828 shares, compared to its average volume of 5,177,193. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $127.34. The business’s 50 day moving average is $117.35 and its two-hundred day moving average is $119.99. The company has a quick ratio of 0.93, a current ratio of 1.12 and a debt-to-equity ratio of 0.16. The stock has a market cap of $228.72 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 3.23 and a beta of 0.99.
Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.11). Chevron had a net margin of 8.70% and a return on equity of 8.89%. The firm had revenue of $36.12 billion during the quarter, compared to analyst estimates of $37.69 billion. During the same period in the previous year, the company posted $2.11 EPS. Chevron’s revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts predict that Chevron Co. will post 6.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Friday, November 15th. Chevron’s dividend payout ratio (DPR) is currently 57.70%.
In other Chevron news, insider David A. Inchausti sold 15,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $119.89, for a total transaction of $1,798,350.00. Following the completion of the sale, the insider now directly owns 15,000 shares in the company, valued at $1,798,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph C. Geagea sold 5,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $118.10, for a total value of $590,500.00. Following the sale, the executive vice president now owns 6,243 shares of the company’s stock, valued at $737,298.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,750 shares of company stock valued at $10,236,850. 0.31% of the stock is currently owned by corporate insiders.
A number of analysts recently issued reports on CVX shares. Independent Research set a $127.00 target price on Chevron and gave the company a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets started coverage on Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price target on the stock. Morgan Stanley lowered their price target on Chevron from $142.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Chevron from $142.00 to $139.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Chevron has an average rating of “Buy” and a consensus price target of $135.82.
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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