Chevron Corporation $CVX Shares Acquired by Plan Group Financial LLC

Plan Group Financial LLC increased its stake in shares of Chevron Corporation (NYSE:CVX) by 19.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,790 shares of the oil and gas company’s stock after acquiring an additional 3,820 shares during the period. Plan Group Financial LLC’s holdings in Chevron were worth $3,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its holdings in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after buying an additional 83,702,101 shares in the last quarter. Norges Bank purchased a new position in shares of Chevron in the 2nd quarter valued at about $2,721,477,000. Laurel Wealth Advisors LLC raised its holdings in Chevron by 14,194.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after purchasing an additional 3,696,177 shares during the period. Berkshire Hathaway Inc boosted its position in Chevron by 2.9% during the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock worth $17,478,458,000 after purchasing an additional 3,454,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Chevron by 4.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after purchasing an additional 1,342,723 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.8%

NYSE CVX opened at $163.66 on Wednesday. The business’s fifty day simple moving average is $152.68 and its 200-day simple moving average is $153.82. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm has a market cap of $329.53 billion, a PE ratio of 23.02, a P/E/G ratio of 10.20 and a beta of 0.70. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. Chevron’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the business earned $2.48 earnings per share. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.2%. Chevron’s dividend payout ratio (DPR) is 96.20%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CVX shares. Morgan Stanley lifted their price target on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Sanford C. Bernstein increased their price objective on Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research note on Monday, January 5th. Finally, Scotiabank raised their price objective on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $167.14.

Insiders Place Their Bets

In other Chevron news, insider Alana K. Knowles sold 7,956 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $165.05, for a total value of $1,313,137.80. Following the transaction, the insider owned 1,207 shares of the company’s stock, valued at $199,215.35. This represents a 86.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael K. Wirth sold 320,700 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the transaction, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at approximately $2,355,205.50. This trade represents a 95.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 631,990 shares of company stock worth $99,716,808 over the last ninety days. Company insiders own 0.20% of the company’s stock.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.