Investmark Advisory Group LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Investmark Advisory Group LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,228 shares of the oil and gas company’s stock after purchasing an additional 464 shares during the quarter. Chevron accounts for about 1.8% of Investmark Advisory Group LLC’s investment portfolio, making the stock its 15th biggest holding. Investmark Advisory Group LLC’s holdings in Chevron were worth $3,715,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CVX. Apella Capital LLC increased its stake in shares of Chevron by 6.5% during the second quarter. Apella Capital LLC now owns 8,035 shares of the oil and gas company’s stock valued at $1,229,000 after buying an additional 489 shares during the period. Matrix Trust Co grew its holdings in shares of Chevron by 6.5% during the 2nd quarter. Matrix Trust Co now owns 8,509 shares of the oil and gas company’s stock worth $1,331,000 after purchasing an additional 523 shares during the period. Albion Financial Group UT boosted its position in Chevron by 3.9% in the 2nd quarter. Albion Financial Group UT now owns 20,968 shares of the oil and gas company’s stock valued at $3,280,000 after buying an additional 793 shares during the period. RDA Financial Network lifted its position in shares of Chevron by 2.0% during the 2nd quarter. RDA Financial Network now owns 4,192 shares of the oil and gas company’s stock worth $656,000 after buying an additional 82 shares during the last quarter. Finally, Greenfield Savings Bank lifted its position in Chevron by 0.8% during the 2nd quarter. Greenfield Savings Bank now owns 12,180 shares of the oil and gas company’s stock worth $1,905,000 after acquiring an additional 93 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVX shares. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Barclays boosted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.56.

Chevron Stock Up 0.5 %

Shares of NYSE:CVX opened at $163.07 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a 50-day simple moving average of $153.36 and a 200-day simple moving average of $152.46. The stock has a market capitalization of $293.05 billion, a P/E ratio of 17.83, a PEG ratio of 3.58 and a beta of 1.10.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during 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 quarter in the prior year, the firm earned $3.05 EPS. Equities analysts forecast that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 4.00%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

About Chevron

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.