Chevron Corporation $CVX Position Boosted by Cwm LLC

Cwm LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 19.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 355,287 shares of the oil and gas company’s stock after acquiring an additional 57,683 shares during the quarter. Cwm LLC’s holdings in Chevron were worth $55,173,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quaker Wealth Management LLC raised its stake in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 118 shares in the last quarter. IMG Wealth Management Inc. increased its stake in Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 91 shares during the period. GFG Capital LLC acquired a new position in Chevron during the 2nd quarter valued at about $42,000. Finally, LFA Lugano Financial Advisors SA raised its position in shares of Chevron by 106.7% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock worth $44,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. UBS Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, December 1st. Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Zacks Research raised Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Finally, Piper Sandler lowered their target price on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $166.00.

Chevron Trading Down 0.0%

Shares of NYSE CVX opened at $150.50 on Friday. The business has a fifty day simple moving average of $152.18 and a 200-day simple moving average of $152.70. The company has a market cap of $303.03 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 9.03 and a beta of 0.68. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the previous year, the company earned $2.48 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date was Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by company insiders.

Chevron Company 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.