Chevron Co. (NYSE:CVX) Position Increased by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,895 shares of the oil and gas company’s stock after buying an additional 4,605 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Chevron were worth $9,705,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CVX. Waddell & Associates LLC lifted its position in Chevron by 4.9% in the 3rd quarter. Waddell & Associates LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,385,000 after purchasing an additional 441 shares during the last quarter. Leelyn Smith LLC boosted its position in shares of Chevron by 6.4% during the third quarter. Leelyn Smith LLC now owns 16,229 shares of the oil and gas company’s stock worth $2,390,000 after buying an additional 979 shares during the period. Nwam LLC bought a new position in Chevron in the 3rd quarter worth approximately $3,209,000. Meridian Wealth Management LLC bought a new stake in Chevron during the 3rd quarter valued at $11,052,000. Finally, Studio Investment Management LLC grew its stake in shares of Chevron by 0.9% in the third quarter. Studio Investment Management LLC now owns 20,486 shares of the oil and gas company’s stock worth $3,017,000 after purchasing an additional 184 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

NYSE CVX opened at $162.36 on Friday. The company has a 50 day simple moving average of $151.58 and a 200-day simple moving average of $152.69. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a market capitalization of $291.78 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 3.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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. 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%. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.05 earnings per share. Equities research analysts predict that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CVX shares. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. 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 note on Thursday, October 10th. Finally, Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Company 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.