Continuum Advisory LLC Acquires 3,466 Shares of Chevron Corporation $CVX

Continuum Advisory LLC grew its stake in shares of Chevron Corporation (NYSE:CVX) by 19.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,203 shares of the oil and gas company’s stock after purchasing an additional 3,466 shares during the quarter. Continuum Advisory LLC’s holdings in Chevron were worth $3,293,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Graham Capital Management L.P. bought a new stake in shares of Chevron during the first quarter valued at approximately $594,000. EP Wealth Advisors LLC increased its holdings in Chevron by 14.3% during the 1st quarter. EP Wealth Advisors LLC now owns 147,035 shares of the oil and gas company’s stock worth $24,597,000 after purchasing an additional 18,415 shares during the period. Federation des caisses Desjardins du Quebec raised its position in Chevron by 39.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 112,991 shares of the oil and gas company’s stock valued at $18,905,000 after purchasing an additional 31,993 shares in the last quarter. Rench Wealth Management Inc. raised its position in Chevron by 1.3% during the 1st quarter. Rench Wealth Management Inc. now owns 31,666 shares of the oil and gas company’s stock valued at $5,297,000 after purchasing an additional 401 shares in the last quarter. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Chevron in the 1st quarter worth $45,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVX. Morgan Stanley raised their price target on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Raymond James Financial reissued an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Mizuho upped their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. HSBC set a $169.00 price objective on shares of Chevron and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, Scotiabank boosted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $166.00.

Chevron Trading Up 0.9%

NYSE CVX opened at $152.31 on Wednesday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a 50 day moving average price of $152.01 and a 200 day moving average price of $152.97. 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 market cap of $306.69 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 9.06 and a beta of 0.68.

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

Chevron Dividend Announcement

The firm also recently announced 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. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio is currently 96.20%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of the firm’s 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 owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

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.