Modera Wealth Management LLC Reduces Stock Position in Chevron Co. (NYSE:CVX)

Modera Wealth Management LLC trimmed its position in Chevron Co. (NYSE:CVX – Get Rating) by 6.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,500 shares of the oil and gas company’s stock after selling 595 shares during the quarter. Modera Wealth Management LLC’s holdings in Chevron were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Worth Asset Management LLC acquired a new position in Chevron during the 1st quarter valued at approximately $36,000. Win Advisors Inc. boosted its position in Chevron by 61.2% during the 2nd quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 120 shares during the period. Joseph P. Lucia & Associates LLC boosted its position in Chevron by 80.6% during the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 336 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 150 shares during the period. Foster Dykema Cabot & Co. Inc. MA acquired a new position in Chevron during the 2nd quarter valued at approximately $69,000. Finally, Goodman Advisory Group LLC acquired a new position in Chevron during the 2nd quarter valued at approximately $72,000. 69.37% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.3 %

Shares of Chevron stock opened at $177.56 on Tuesday. The stock’s fifty day moving average is $177.92 and its 200-day moving average is $164.48. The firm has a market capitalization 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. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $122.84 and a 12-month high of $189.68.

Chevron (NYSE:CVX – Get Rating) last announced its earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $0.54. The company had revenue of $66.64 billion for the quarter, compared to analyst estimates of $61.44 billion. Chevron had a return on equity of 22.36% and a net margin of 14.36%. Chevron’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.96 earnings per share. Equities analysts anticipate that Chevron Co. will post 19.03 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Friday, November 18th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Thursday, November 17th. Chevron’s dividend payout ratio (DPR) is presently 32.31%.

Insider Transactions at Chevron

In related news, VP R. Hewitt Pate sold 32,391 shares of the company’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total transaction of $5,830,380.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP R. Hewitt Pate sold 32,391 shares of the company’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total transaction of $5,830,380.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Pierre R. Breber sold 25,000 shares of the company’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $179.64, for a total value of $4,491,000.00. Following the transaction, the chief financial officer now directly owns 8 shares in the company, valued at $1,437.12. 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 three months. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of analyst reports. Citigroup boosted their price objective on Chevron from $155.00 to $180.00 in a research report on Tuesday, November 22nd. Raymond James boosted their price target on Chevron from $188.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. HSBC boosted their price target on Chevron to $187.00 in a research report on Friday, December 2nd. Cowen boosted their price target on Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. Finally, StockNews.com began coverage on Chevron in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $186.67.

About Chevron

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.