Chevron Corporation $CVX Shares Bought by Balentine LLC

Balentine LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 108.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,131 shares of the oil and gas company’s stock after purchasing an additional 3,716 shares during the period. Balentine LLC’s holdings in Chevron were worth $1,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vishria Bird Financial Group LLC grew its holdings in shares of Chevron by 1.2% in the third quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock valued at $821,000 after purchasing an additional 65 shares during the period. Nexus Investment Management ULC boosted its holdings in Chevron by 0.9% in the 3rd quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock valued at $1,187,000 after purchasing an additional 65 shares during the last quarter. Scott & Selber Inc. grew its stake in shares of Chevron by 0.5% in the 3rd quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock valued at $2,079,000 after buying an additional 65 shares during the period. White Knight Strategic Wealth Advisors LLC increased its holdings in shares of Chevron by 3.0% during the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after buying an additional 65 shares during the last quarter. Finally, William B. Walkup & Associates Inc. raised its position in shares of Chevron by 1.0% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock valued at $987,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other news, CFO Eimear P. Bonner sold 32,100 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the sale, the chief financial officer owned 4,366 shares in the company, valued at approximately $764,093.66. This represents a 88.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Mark A. Nelson sold 45,800 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $174.17, for a total value of $7,976,986.00. Following the completion of the transaction, the insider owned 7,161 shares in the company, valued at $1,247,231.37. This trade represents a 86.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 793,163 shares of company stock worth $127,920,502 over the last 90 days. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Up 0.7%

Shares of NYSE:CVX opened at $183.65 on Tuesday. The firm has a 50 day simple moving average of $163.21 and a 200-day simple moving average of $157.68. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $186.52. 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 company has a market capitalization of $369.79 billion, a PE ratio of 27.58, a P/E/G ratio of 12.16 and a beta of 0.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The firm 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%.The business’s revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 EPS. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVX shares. Zacks Research raised Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Jefferies Financial Group raised their price objective on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup lowered their target price on shares of Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, January 21st. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Chevron has an average rating of “Hold” and an average price target 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.