Close Asset Management Ltd Increases Stock Position in Chevron Co. (NYSE:CVX)

Close Asset Management Ltd lifted its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 40.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,634 shares of the oil and gas company’s stock after acquiring an additional 8,244 shares during the quarter. Close Asset Management Ltd’s holdings in Chevron were worth $4,119,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CVX. Worth Asset Management LLC bought a new stake in Chevron during the 1st quarter valued at $36,000. Win Advisors Inc. lifted its holdings in shares of Chevron by 61.2% during the 2nd quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 120 shares during the last quarter. Joseph P. Lucia & Associates LLC boosted its stake in Chevron by 80.6% in the second quarter. Joseph P. Lucia & Associates LLC now owns 336 shares of the oil and gas company’s stock worth $49,000 after buying an additional 150 shares in the last quarter. Foster Dykema Cabot & Co. Inc. MA bought a new position in shares of Chevron during the second quarter valued at about $69,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Chevron during the second quarter valued at approximately $72,000. 69.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Bank of America cut Chevron from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $190.00 to $191.00 in a report on Friday. HSBC upped their price objective on shares of Chevron to $187.00 in a report on Friday, December 2nd. Morgan Stanley lifted their target price on shares of Chevron from $193.00 to $196.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 19th. StockNews.com assumed coverage on shares of Chevron in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Raymond James lifted their price objective on Chevron from $188.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $185.15.

Chevron Stock Performance

Shares of CVX stock opened at $176.56 on Friday. The company has a market capitalization of $341.40 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 0.72 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 1.40. Chevron Co. has a one year low of $122.84 and a one year high of $189.68. The company’s 50-day moving average is $178.58 and its 200 day moving average is $163.09.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 EPS for the quarter, beating analysts’ consensus estimates of $5.02 by $0.54. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The firm had revenue of $66.64 billion for the quarter, compared to analysts’ expectations of $61.44 billion. During the same quarter in the prior year, the company posted $2.96 earnings per share. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 19.13 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Friday, November 18th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Thursday, November 17th. Chevron’s payout ratio is currently 32.31%.

Insider Activity at Chevron

In other Chevron news, EVP James William Johnson sold 143,466 shares of the business’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $179.30, for a total value of $25,723,453.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP James William Johnson sold 143,466 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $179.30, for a total value of $25,723,453.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The disclosure for this sale can be found here. Insiders have sold 293,563 shares of company stock valued at $53,186,421 over the last ninety days. Insiders own 0.32% of the company’s stock.

Chevron Company Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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