D L Carlson Investment Group Inc. trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,516 shares of the oil and gas company’s stock after selling 3,074 shares during the period. D L Carlson Investment Group Inc.’s holdings in Chevron were worth $2,552,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Guidant Wealth Advisors grew its position in Chevron by 63.9% in the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC bought a new position in Chevron in the second quarter valued at $34,000. Transamerica Financial Advisors Inc. bought a new position in Chevron in the second quarter valued at $46,000. Cordasco Financial Network grew its position in Chevron by 55.3% in the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 135 shares in the last quarter. Finally, CKW Financial Group grew its position in Chevron by 154.0% in the second quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 65.68% of the company’s stock.
In related news, insider Joseph C. Geagea sold 8,000 shares of Chevron stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. Following the completion of the sale, the insider now owns 9,243 shares of the company’s stock, valued at approximately $1,132,267.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph C. Geagea sold 5,000 shares of Chevron stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $118.10, for a total transaction of $590,500.00. Following the sale, the executive vice president now directly owns 6,243 shares of the company’s stock, valued at approximately $737,298.30. The disclosure for this sale can be found here. Insiders have sold a total of 91,750 shares of company stock valued at $11,216,850 in the last ninety days. 0.31% of the stock is currently owned by insiders.
Shares of CVX stock opened at $120.93 on Friday. The company has a market capitalization of $231.49 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 3.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. The company has a 50-day simple moving average of $117.65 and a 200 day simple 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 announced 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). The company had revenue of $36.12 billion for the quarter, compared to the consensus estimate of $37.69 billion. Chevron had a return on equity of 8.89% and a net margin of 8.70%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.11 EPS. Sell-side analysts forecast that Chevron Co. will post 6.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Friday, November 15th. Chevron’s payout ratio is 57.70%.
A number of research analysts have recently commented on the stock. Independent Research set a $127.00 price objective on shares of Chevron and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays assumed coverage on shares of Chevron in a research report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price objective for the company. Cowen decreased their price objective on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley decreased their price objective on shares of Chevron from $144.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $135.88.
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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