Congress Park Capital LLC Acquires 5,622 Shares of Chevron Corporation $CVX

Congress Park Capital LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 223.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,138 shares of the oil and gas company’s stock after acquiring an additional 5,622 shares during the quarter. Congress Park Capital LLC’s holdings in Chevron were worth $1,264,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the sale, the director directly owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. Mizuho raised their price objective on Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. HSBC set a $169.00 price objective on Chevron and gave the stock a “buy” rating in a report on Monday, December 1st. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $166.00.

Chevron Price Performance

Shares of Chevron stock opened at $147.69 on Friday. The business has a 50 day moving average of $152.34 and a 200 day moving average of $152.30. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market cap of $297.38 billion, a PE ratio of 20.77, a P/E/G ratio of 8.88 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.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio is presently 96.20%.

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.