Qsemble Capital Management LP Makes New Investment in Chevron Co. (NYSE:CVX)

Qsemble Capital Management LP acquired a new position in Chevron Co. (NYSE:CVX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 31,208 shares of the oil and gas company’s stock, valued at approximately $4,596,000. Chevron accounts for 0.8% of Qsemble Capital Management LP’s portfolio, making the stock its 23rd biggest holding.

Several other institutional investors have also recently made changes to their positions in CVX. Montz Harcus Wealth Management LLC boosted its stake in shares of Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after buying an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC boosted its position in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares in the last quarter. Tacita Capital Inc grew its stake in shares of Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 65 shares during the period. Cyndeo Wealth Partners LLC increased its holdings in shares of Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares in the last quarter. Finally, S.A. Mason LLC lifted its stake in shares of Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.1 %

Shares of CVX traded down $0.18 during trading on Monday, reaching $162.18. 1,169,132 shares of the company traded hands, compared to its average volume of 7,620,115. The stock has a 50-day simple moving average of $151.58 and a 200-day simple moving average of $152.55. The stock has a market cap of $291.45 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the firm earned $3.05 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The company 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 $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. UBS Group upped their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Finally, Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron 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.