Financial Consulate Inc. Acquires Shares of 3,690 Chevron Corporation $CVX

Financial Consulate Inc. acquired a new position in shares of Chevron Corporation (NYSE:CVX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,690 shares of the oil and gas company’s stock, valued at approximately $573,000.

A number of other institutional investors have also modified their holdings of the stock. White Knight Strategic Wealth Advisors LLC increased its holdings in Chevron by 3.0% in the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock valued at $319,000 after buying an additional 65 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in Chevron by 7.4% during the 2nd quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company’s stock worth $138,000 after buying an additional 66 shares during the last quarter. Analyst IMS Investment Management Services Ltd. grew its position in shares of Chevron by 1.0% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after acquiring an additional 67 shares in the last quarter. M.E. Allison & CO. Inc. increased its holdings in shares of Chevron by 0.6% in the 3rd quarter. M.E. Allison & CO. Inc. now owns 11,204 shares of the oil and gas company’s stock valued at $1,740,000 after acquiring an additional 67 shares during the last quarter. Finally, Greenfield Savings Bank raised its position in shares of Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 275,000 shares of the business’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 transaction, the director owned 1,128,045 shares in the company, valued at approximately $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 can be accessed through this link. 0.21% of the stock is owned by insiders.

Chevron Trading Up 0.1%

Shares of NYSE:CVX opened at $152.44 on Friday. 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 company’s 50-day moving average price is $151.87 and its 200 day moving average price is $152.96. The company has a market cap of $306.94 billion, a PE ratio of 21.44, a P/E/G ratio of 9.15 and a beta of 0.70. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were paid 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 yield of 4.5%. Chevron’s payout ratio is presently 96.20%.

Analyst Ratings Changes

A number of research firms have commented on CVX. Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. Piper Sandler decreased their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Barclays lowered their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One equities 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 issued a Sell rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $166.00.

Chevron Company 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.