Ascent Group LLC Has $4.40 Million Stake in Chevron Co. (NYSE:CVX)

Ascent Group LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 27.7% during the third quarter, HoldingsChannel.com reports. The fund owned 29,893 shares of the oil and gas company’s stock after buying an additional 6,482 shares during the quarter. Ascent Group LLC’s holdings in Chevron were worth $4,402,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Montz Harcus Wealth Management LLC increased its stake in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares during the period. Tacita Capital Inc grew its stake in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 65 shares during the period. Cyndeo Wealth Partners LLC increased its position in Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after buying an additional 67 shares in the last quarter. Finally, S.A. Mason LLC raised its stake in Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was 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 directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Stock Down 0.1 %

Shares of NYSE CVX opened at $161.93 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $291.00 billion, a PE ratio of 17.79, a P/E/G ratio of 3.58 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business’s fifty day moving average price is $153.36 and its 200-day moving average price is $152.46.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.05 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 10.53 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.03%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analyst Ratings Changes

A number of equities research analysts have commented on CVX shares. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Scotiabank lowered their price target 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. Finally, Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.56.

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.