Advisors Asset Management Inc. Buys 6,680 Shares of Chevron Corporation $CVX

Advisors Asset Management Inc. boosted its stake in Chevron Corporation (NYSE:CVX) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 197,724 shares of the oil and gas company’s stock after purchasing an additional 6,680 shares during the quarter. Chevron makes up 0.5% of Advisors Asset Management Inc.’s investment portfolio, making the stock its 21st largest position. Advisors Asset Management Inc.’s holdings in Chevron were worth $30,705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Quaker Wealth Management LLC grew its position in shares of Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in Chevron during the third quarter valued at $34,000. Vermillion & White Wealth Management Group LLC grew its position in 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 worth $37,000 after buying an additional 118 shares in the last quarter. Marquette Asset Management LLC purchased a new position in Chevron during the third quarter worth about $41,000. Finally, IMG Wealth Management Inc. increased its stake in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 91 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In other Chevron news, CTO Thomas Ryder Booth sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $178.43, for a total value of $1,070,580.00. Following the transaction, the chief technology officer owned 476 shares in the company, valued at approximately $84,932.68. The trade was a 92.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Mark A. Nelson sold 45,800 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $174.17, for a total transaction of $7,976,986.00. Following the sale, the insider owned 7,161 shares of the company’s stock, valued at approximately $1,247,231.37. This represents a 86.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 793,158 shares of company stock worth $127,919,578 over the last ninety days. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.1%

Shares of NYSE:CVX opened at $182.39 on Wednesday. The stock has a market capitalization of $367.25 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 12.28 and a beta of 0.70. The stock’s 50-day moving average price is $160.55 and its 200-day moving average price is $156.86. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $182.95.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a return on equity of 8.23% and a net margin of 6.51%.Chevron’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.06 EPS. On average, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. Chevron’s payout ratio is presently 102.70%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Zacks Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 23rd. JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price for the company in a research report on Tuesday, January 20th. Scotiabank reissued a “sector perform” rating and issued a $168.00 price target on shares of Chevron in a report on Friday, January 16th. Mizuho raised their price objective on shares of Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $175.00.

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.