Concentric Wealth Management LLC Purchases 1,086 Shares of Chevron Co. (NYSE:CVX)

Concentric Wealth Management LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,489 shares of the oil and gas company’s stock after acquiring an additional 1,086 shares during the period. Chevron makes up approximately 1.3% of Concentric Wealth Management LLC’s holdings, making the stock its 27th biggest holding. Concentric Wealth Management LLC’s holdings in Chevron were worth $5,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Rational Advisors LLC purchased a new stake in Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron in the third quarter valued at $30,000. Anfield Capital Management LLC lifted its holdings in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Finally, Krane Funds Advisors LLC bought a new position in Chevron during the 3rd quarter valued at about $47,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $162.36 on Monday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $291.78 billion, a P/E ratio of 17.84, a P/E/G ratio of 3.58 and a beta of 1.09. The business’s 50 day moving average price is $151.58 and its 200 day moving average price is $152.55.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CVX shares. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group upped their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada lifted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.