Parkside Financial Bank & Trust boosted its stake in Chevron Co. (NYSE:CVX) by 26.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,068 shares of the oil and gas company’s stock after acquiring an additional 2,086 shares during the period. Parkside Financial Bank & Trust’s holdings in Chevron were worth $1,194,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in CVX. Guidant Wealth Advisors boosted its holdings in Chevron by 63.9% in the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC bought a new stake in shares of Chevron during the 2nd quarter valued at $34,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Chevron during the 2nd quarter valued at $46,000. Cordasco Financial Network boosted its holdings in shares of Chevron by 55.3% during the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 135 shares in the last quarter. Finally, CKW Financial Group boosted its holdings in shares of Chevron by 154.0% during the 2nd quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 251 shares in the last quarter. Institutional investors and hedge funds own 65.68% of the company’s stock.
In other Chevron news, insider Joseph C. Geagea sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total value of $980,000.00. Following the completion of the transaction, the insider now owns 9,243 shares of the company’s stock, valued at approximately $1,132,267.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph C. Geagea sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $116.98, for a total value of $1,754,700.00. Following the completion of the transaction, the executive vice president now directly owns 6,243 shares of the company’s stock, valued at approximately $730,306.14. The disclosure for this sale can be found here. In the last three months, insiders sold 91,750 shares of company stock valued at $11,216,850. 0.31% of the stock is owned by insiders.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The company had revenue of $36.12 billion during the quarter, compared to analysts’ expectations of $37.69 billion. During the same period in the prior year, the firm earned $2.11 EPS. Chevron’s revenue for the quarter was down 17.9% compared to the same quarter last year. Research analysts anticipate that Chevron Co. will post 6.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Friday, November 15th. Chevron’s dividend payout ratio (DPR) is 57.70%.
A number of analysts have recently commented on the stock. Independent Research set a $127.00 target price on shares of Chevron and gave the company a “neutral” rating in a report on Thursday, August 29th. ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays assumed coverage on shares of Chevron in a report on Monday, August 19th. They set an “overweight” rating and a $145.00 target price on the stock. Morgan Stanley lowered their price target on Chevron from $144.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price target on Chevron from $142.00 to $139.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $135.88.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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