Grant Private Wealth Management Inc Sells 15,376 Shares of Chevron Corporation $CVX

Grant Private Wealth Management Inc cut its stake in Chevron Corporation (NYSE:CVX) by 85.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,533 shares of the oil and gas company’s stock after selling 15,376 shares during the quarter. Grant Private Wealth Management Inc’s holdings in Chevron were worth $393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Solitude Financial Services raised its position in shares of Chevron by 8.2% in the 2nd quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock worth $3,626,000 after acquiring an additional 1,913 shares in the last quarter. Shell Asset Management Co. boosted its position in shares of Chevron by 21.4% during the second quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock valued at $7,319,000 after purchasing an additional 9,002 shares in the last quarter. Mutual Advisors LLC grew its stake in Chevron by 7.3% in the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after purchasing an additional 6,058 shares during the period. Costello Asset Management INC raised its holdings in Chevron by 26.9% in the second quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock worth $2,390,000 after purchasing an additional 3,541 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Chevron by 25.7% during the first quarter. Jones Financial Companies Lllp now owns 697,011 shares of the oil and gas company’s stock valued at $115,887,000 after buying an additional 142,662 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $149.46 on Thursday. The company has a market capitalization of $300.93 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 8.72 and a beta of 0.68. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $152.41 and a 200 day moving average of $152.33. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.48 EPS. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s dividend payout ratio (DPR) is 96.20%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Bank of America cut their price objective on shares of Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Barclays lowered their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, HSBC set a $169.00 price objective on Chevron and gave the company a “buy” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $166.00.

Insider Buying and Selling

In related news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

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.