Emprise Bank Acquires New Shares in Chevron Corporation $CVX

Emprise Bank purchased a new stake in shares of Chevron Corporation (NYSE:CVX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,995 shares of the oil and gas company’s stock, valued at approximately $776,000.

Other large investors have also modified their holdings of the company. Quaker Wealth Management LLC grew its position in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 118 shares during the last quarter. IMG Wealth Management Inc. boosted its position in shares of Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares during the period. GFG Capital LLC bought a new position in Chevron in the 2nd quarter worth approximately $42,000. Finally, LFA Lugano Financial Advisors SA grew its holdings in Chevron by 106.7% in the 2nd quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock worth $44,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. Scotiabank lifted their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Barclays decreased their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. HSBC set a $169.00 price target on shares of Chevron and gave the stock a “buy” rating in a research report on Monday, December 1st. Finally, Wells Fargo & Company increased their price objective on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus price target of $166.00.

Insider Activity at Chevron

In other news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director directly owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This trade represents a 19.60% decrease in their position. The transaction 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.

Chevron Price Performance

Shares of NYSE CVX opened at $150.06 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $152.11 and a two-hundred day moving average of $152.83. The company has a market capitalization of $302.14 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 9.00 and a beta of 0.68.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping 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 business’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were issued a $1.71 dividend. 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 is currently 96.20%.

Chevron Profile

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.