World Investment Advisors Increases Stake in Chevron Corporation $CVX

World Investment Advisors raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,617 shares of the oil and gas company’s stock after buying an additional 5,244 shares during the quarter. World Investment Advisors’ holdings in Chevron were worth $10,656,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVX. Tritonpoint Wealth LLC grew its stake in Chevron by 2.5% during the 3rd quarter. Tritonpoint Wealth LLC now owns 50,927 shares of the oil and gas company’s stock valued at $7,908,000 after acquiring an additional 1,258 shares in the last quarter. ARS Investment Partners LLC boosted its holdings in shares of Chevron by 0.7% during the 3rd quarter. ARS Investment Partners LLC now owns 73,789 shares of the oil and gas company’s stock worth $11,459,000 after purchasing an additional 485 shares during the last quarter. Brookstone Capital Management grew its position in shares of Chevron by 11.8% in the third quarter. Brookstone Capital Management now owns 135,499 shares of the oil and gas company’s stock valued at $21,042,000 after purchasing an additional 14,256 shares in the last quarter. Triangle Securities Wealth Management increased its holdings in shares of Chevron by 16.1% in the third quarter. Triangle Securities Wealth Management now owns 15,153 shares of the oil and gas company’s stock valued at $2,353,000 after purchasing an additional 2,097 shares during the last quarter. Finally, Level Financial Advisors lifted its position in Chevron by 51.6% during the third quarter. Level Financial Advisors now owns 2,391 shares of the oil and gas company’s stock worth $371,000 after buying an additional 814 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX opened at $150.50 on Friday. The firm has a 50-day simple moving average of $152.18 and a two-hundred day simple moving average of $152.70. The stock has a market cap of $303.03 billion, a PE ratio of 21.17, a P/E/G ratio of 9.03 and a beta of 0.68. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company posted $2.48 EPS. As a group, analysts forecast 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. Investors of record on Tuesday, November 18th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This trade represents a 19.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVX. HSBC set a $169.00 target price on Chevron and gave the company a “buy” rating in a report on Monday, December 1st. Piper Sandler dropped their price objective on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Barclays reduced their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Morgan Stanley increased their price target on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Finally, UBS Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $166.00.

Chevron 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.