Cassaday & Co Wealth Management LLC Buys 3,615 Shares of Chevron Corporation $CVX

Cassaday & Co Wealth Management LLC boosted its stake in Chevron Corporation (NYSE:CVX) by 25.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,622 shares of the oil and gas company’s stock after purchasing an additional 3,615 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Chevron were worth $2,736,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Castellan Group increased its stake in shares of Chevron by 10.7% in the second quarter. Castellan Group now owns 20,405 shares of the oil and gas company’s stock valued at $2,922,000 after buying an additional 1,965 shares during the period. United Bank increased its position in Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after acquiring an additional 796 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Chevron during the second quarter valued at $20,701,000. Chicago Partners Investment Group LLC lifted its holdings in shares of Chevron by 12.5% during the second quarter. Chicago Partners Investment Group LLC now owns 21,246 shares of the oil and gas company’s stock worth $3,253,000 after purchasing an additional 2,362 shares during the period. Finally, Balboa Wealth Partners lifted its holdings in shares of Chevron by 25.8% during the second quarter. Balboa Wealth Partners now owns 4,471 shares of the oil and gas company’s stock worth $640,000 after purchasing an additional 916 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CVX shares. Wells Fargo & Company increased their price objective on Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Bank of America lowered their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Sanford C. Bernstein upped their target price on Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Morgan Stanley decreased their target price on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Finally, Zacks Research upgraded shares of Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 23rd. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Hold” and a consensus target price of $175.00.

Chevron Stock Performance

NYSE:CVX opened at $183.65 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $186.52. The company has a fifty day moving average of $163.21 and a 200-day moving average of $157.68. The firm has a market capitalization of $369.79 billion, a P/E ratio of 27.58, a P/E/G ratio of 12.16 and a beta of 0.70.

Chevron (NYSE:CVX) last posted its quarterly 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 firm had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The business’s revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.06 earnings per share. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company 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 $1.78 dividend. The ex-dividend date is Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.9%. Chevron’s dividend payout ratio is currently 102.70%.

Insider Transactions at Chevron

In other news, CTO Thomas Ryder Booth sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $178.43, for a total transaction of $1,070,580.00. Following the transaction, the chief technology officer directly owned 476 shares of the company’s stock, valued at $84,932.68. This represents a 92.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Benjamin Walz sold 22,200 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $176.53, for a total value of $3,918,966.00. Following the completion of the transaction, the insider owned 666 shares in the company, valued at approximately $117,568.98. This represents a 97.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 793,163 shares of company stock valued at $127,920,502. 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.