Ropes Wealth Advisors LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,741 shares of the oil and gas company’s stock after purchasing an additional 291 shares during the period. Chevron accounts for about 1.1% of Ropes Wealth Advisors LLC’s portfolio, making the stock its 24th biggest position. Ropes Wealth Advisors LLC’s holdings in Chevron were worth $4,950,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in CVX. First Financial Bank Trust Division boosted its position in shares of Chevron by 18.4% in the second quarter. First Financial Bank Trust Division now owns 74,960 shares of the oil and gas company’s stock valued at $9,328,000 after acquiring an additional 11,667 shares during the period. Private Trust Co. NA raised its stake in shares of Chevron by 6.5% in the second quarter. Private Trust Co. NA now owns 42,640 shares of the oil and gas company’s stock valued at $5,306,000 after purchasing an additional 2,617 shares in the last quarter. Fulton Bank N.A. raised its stake in shares of Chevron by 0.4% in the second quarter. Fulton Bank N.A. now owns 53,721 shares of the oil and gas company’s stock valued at $6,685,000 after purchasing an additional 210 shares in the last quarter. Stillwater Investment Management LLC raised its stake in shares of Chevron by 3.8% in the second quarter. Stillwater Investment Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $366,000 after purchasing an additional 109 shares in the last quarter. Finally, Ellenbecker Investment Group raised its stake in shares of Chevron by 8.7% in the second quarter. Ellenbecker Investment Group now owns 2,847 shares of the oil and gas company’s stock valued at $354,000 after purchasing an additional 229 shares in the last quarter. Institutional investors own 65.68% of the company’s stock.
Chevron stock traded down $0.18 during mid-day trading on Monday, hitting $120.75. 294,067 shares of the company were exchanged, compared to its average volume of 6,442,372. The company has a quick ratio of 0.91, a current ratio of 1.15 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 1-year low of $100.22 and a 1-year high of $127.34. The company has a market capitalization of $231.49 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 3.25 and a beta of 0.99.
Chevron (NYSE:CVX) last released its quarterly earnings data 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). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The company had revenue of $36.12 billion for the quarter, compared to analyst estimates of $37.69 billion. During the same quarter in the prior year, the company earned $2.11 earnings per share. The business’s revenue was down 17.9% compared to the same quarter last year. Research analysts expect that Chevron Co. will post 6.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.19 per share. The ex-dividend date is Friday, November 15th. This represents a $4.76 annualized dividend and a yield of 3.94%. Chevron’s dividend payout ratio is currently 57.70%.
CVX has been the subject of a number of recent research reports. Morgan Stanley cut their target price on Chevron from $144.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their target price on Chevron from $142.00 to $139.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Barclays initiated coverage on Chevron in a research note on Monday, August 19th. They issued an “overweight” rating and a $145.00 target price for the company. ValuEngine upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Independent Research set a $127.00 target price on Chevron and gave the company a “neutral” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $135.88.
In other news, EVP Joseph C. Geagea sold 15,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $116.98, for a total transaction of $1,754,700.00. Following the sale, the executive vice president now owns 6,243 shares in the company, valued at $730,306.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph C. Geagea sold 8,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total value of $980,000.00. Following the sale, the insider now owns 9,243 shares in the company, valued at approximately $1,132,267.50. The disclosure for this sale can be found here. Insiders have sold 91,750 shares of company stock valued at $11,216,850 over the last quarter. Corporate insiders own 0.31% of the company’s stock.
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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