Patriot Financial Group Insurance Agency LLC Has $1.06 Million Holdings in Chevron Co. (NYSE:CVX)

Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 64.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,409 shares of the oil and gas company’s stock after purchasing an additional 2,895 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Chevron were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CVX. Renaissance Technologies LLC increased its stake in shares of Chevron by 600.7% in the 2nd quarter. Renaissance Technologies LLC now owns 5,786,295 shares of the oil and gas company’s stock valued at $837,740,000 after acquiring an additional 4,960,475 shares during the last quarter. FMR LLC increased its stake in shares of Chevron by 62.3% in the 2nd quarter. FMR LLC now owns 11,343,585 shares of the oil and gas company’s stock valued at $1,642,325,000 after acquiring an additional 4,354,660 shares during the last quarter. New England Asset Management Inc. increased its stake in shares of Chevron by 3,518.8% in the 2nd quarter. New England Asset Management Inc. now owns 2,151,915 shares of the oil and gas company’s stock valued at $311,555,000 after acquiring an additional 2,092,450 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Chevron by 16.3% in the 2nd quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock valued at $1,964,620,000 after acquiring an additional 1,899,104 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Chevron by 10.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,405,192 shares of the oil and gas company’s stock valued at $927,344,000 after acquiring an additional 592,981 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX opened at $177.56 on Monday. Chevron Co. has a 52-week low of $122.84 and a 52-week high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 1.40. The business’s 50 day moving average price is $178.08 and its two-hundred day moving average price is $164.25. The firm has a market cap of $343.34 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.54. The business had revenue of $66.64 billion during the quarter, compared to the consensus estimate of $61.44 billion. Chevron had a return on equity of 22.36% and a net margin of 14.36%. Chevron’s revenue was up 49.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.96 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 19.03 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were paid a $1.42 dividend. The ex-dividend date was Thursday, November 17th. This represents a $5.68 dividend on an annualized basis and a yield of 3.20%. Chevron’s dividend payout ratio is currently 32.31%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. StockNews.com assumed coverage on Chevron in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Wells Fargo & Company increased their target price on Chevron from $199.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 10th. Citigroup increased their target price on Chevron from $155.00 to $180.00 in a research note on Tuesday, November 22nd. Cowen increased their target price on Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, October 31st. Finally, BNP Paribas cut Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 target price for the company. in a research note on Wednesday, December 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $186.67.

Insiders Place Their Bets

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 stock was sold at an average price of $179.30, for a total transaction of $25,723,453.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Chevron news, VP R. Hewitt Pate sold 32,391 shares of Chevron stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total value of $5,830,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James William Johnson sold 143,466 shares of Chevron stock in a transaction on Monday, November 28th. The stock was sold at an average price of $179.30, for a total value of $25,723,453.80. The disclosure for this sale can be found here. Insiders have sold 293,563 shares of company stock worth $53,186,421 in the last ninety days. 0.32% of the stock is currently owned by insiders.

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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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