Chevron Corporation $CVX Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lessened its position in Chevron Corporation (NYSE:CVX) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 274,553 shares of the oil and gas company’s stock after selling 3,518 shares during the period. Chevron makes up 1.2% of Wesbanco Bank Inc.’s portfolio, making the stock its 12th biggest position. Wesbanco Bank Inc.’s holdings in Chevron were worth $42,635,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Quaker Wealth Management LLC raised its position in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in Chevron during the 3rd quarter worth approximately $34,000. Vermillion & White Wealth Management Group LLC lifted its stake in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 118 shares in the last quarter. IMG Wealth Management Inc. boosted its holdings 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 purchasing an additional 91 shares during the period. Finally, Marquette Asset Management LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 41,134 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $176.40, for a total value of $7,256,037.60. Following the transaction, the insider directly owned 4,169 shares of the company’s stock, valued at $735,411.60. The trade was a 90.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Mark A. Nelson sold 45,800 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $174.17, for a total value of $7,976,986.00. Following the sale, the insider directly owned 7,161 shares of the company’s stock, valued at $1,247,231.37. This represents a 86.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 793,158 shares of company stock worth $127,919,578. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $182.70 on Tuesday. The stock has a market capitalization of $367.87 billion, a PE ratio of 27.43, a PEG ratio of 12.11 and a beta of 0.70. The business’s 50 day simple moving average is $159.90 and its 200 day simple moving average is $156.66. 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 Corporation has a one year low of $132.04 and a one year high of $182.82.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The firm had revenue of $45.79 billion for the quarter, compared to the consensus estimate of $48.18 billion. During the same quarter in the previous year, the company earned $2.06 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio (DPR) is 102.70%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVX. Argus set a $203.00 price target on Chevron in a research note on Tuesday, February 3rd. UBS Group reaffirmed a “buy” rating and issued a $212.00 price target on shares of Chevron in a research report on Monday, February 2nd. Raymond James Financial reaffirmed 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. Morgan Stanley cut their price target on Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Finally, TD Cowen raised their price target on shares of Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $175.00.

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.