5,971 Shares in Chevron Corporation $CVX Acquired by Friedenthal Financial

Friedenthal Financial purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,971 shares of the oil and gas company’s stock, valued at approximately $927,000.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Gilman Hill Asset Management LLC raised its holdings in shares of Chevron by 23.2% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 2,880 shares of the oil and gas company’s stock valued at $447,000 after buying an additional 542 shares during the period. Hanson & Doremus Investment Management increased its stake in Chevron by 12.4% during the 3rd quarter. Hanson & Doremus Investment Management now owns 6,171 shares of the oil and gas company’s stock worth $958,000 after buying an additional 679 shares during the period. Optas LLC lifted its holdings in Chevron by 78.5% during the 3rd quarter. Optas LLC now owns 3,125 shares of the oil and gas company’s stock worth $485,000 after buying an additional 1,374 shares in the last quarter. Successful Portfolios LLC lifted its holdings in Chevron by 33.2% during the 3rd quarter. Successful Portfolios LLC now owns 4,658 shares of the oil and gas company’s stock worth $723,000 after buying an additional 1,162 shares in the last quarter. Finally, Cypress Wealth Services LLC boosted its holdings in Chevron by 5.4% in the third quarter. Cypress Wealth Services LLC now owns 10,116 shares of the oil and gas company’s stock valued at $1,571,000 after purchasing an additional 522 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVX. Barclays reduced their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Morgan Stanley upped their target price on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Scotiabank lifted their price target on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Bank of America lowered their price target on shares of Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Finally, Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $166.00.

Chevron Stock Performance

NYSE CVX opened at $150.50 on Thursday. The company has a fifty day moving average of $152.20 and a two-hundred day moving average of $152.71. The company has a market capitalization of $303.03 billion, a PE ratio of 21.17, a P/E/G ratio of 9.03 and a beta of 0.68. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is 96.20%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.