New England Asset Management Inc. Has $5.70 Million Stock Holdings in Chevron Co. (NYSE:CVX)

New England Asset Management Inc. grew its stake in Chevron Co. (NYSE:CVX) by 0.4% in the third quarter, HoldingsChannel.com reports. The fund owned 38,685 shares of the oil and gas company’s stock after acquiring an additional 145 shares during the period. New England Asset Management Inc.’s holdings in Chevron were worth $5,697,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVX. Marietta Wealth Management LLC increased its stake in Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after purchasing an additional 3,965 shares in the last quarter. Leo Wealth LLC increased its position in shares of Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares in the last quarter. RPG Investment Advisory LLC increased its position in shares of Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after buying an additional 3,933 shares in the last quarter. Garner Asset Management Corp lifted its holdings in Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after acquiring an additional 2,530 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its stake in Chevron by 3.2% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock valued at $16,930,000 after acquiring an additional 3,561 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Chevron Stock Performance

NYSE CVX opened at $160.78 on Tuesday. The firm’s fifty day moving average price is $149.80 and its two-hundred day moving average price is $152.57. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market capitalization of $288.94 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $3.05 EPS. As a group, research analysts anticipate that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

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 issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.06%. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. UBS Group raised their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Finally, Scotiabank reduced their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.