Abel Hall LLC Sells 434 Shares of Chevron Co. (NYSE:CVX)

Abel Hall LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,634 shares of the oil and gas company’s stock after selling 434 shares during the quarter. Abel Hall LLC’s holdings in Chevron were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Continuum Advisory LLC lifted its position in Chevron by 6.9% during the third quarter. Continuum Advisory LLC now owns 17,411 shares of the oil and gas company’s stock valued at $2,817,000 after acquiring an additional 1,131 shares during the last quarter. PYA Waltman Capital LLC boosted its position in shares of Chevron by 5.3% in the 3rd quarter. PYA Waltman Capital LLC now owns 15,211 shares of the oil and gas company’s stock worth $2,240,000 after purchasing an additional 761 shares in the last quarter. Hamilton Capital LLC grew its stake in Chevron by 11.0% during the 3rd quarter. Hamilton Capital LLC now owns 10,954 shares of the oil and gas company’s stock worth $1,630,000 after buying an additional 1,082 shares during the last quarter. SGL Investment Advisors Inc. acquired a new position in Chevron during the 3rd quarter valued at about $5,376,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Chevron by 7.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 982,888 shares of the oil and gas company’s stock valued at $144,750,000 after buying an additional 66,286 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $155.24 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $278.98 billion, a PE ratio of 17.06, a PEG ratio of 3.43 and a beta of 1.10. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The firm has a fifty day moving average of $154.77 and a 200 day moving average of $152.42.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating 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 period last year, the company posted $3.05 EPS. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 10.53 EPS 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 given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.94.

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.