AMG National Trust Bank boosted its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 29.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,819 shares of the oil and gas company’s stock after buying an additional 12,132 shares during the quarter. AMG National Trust Bank’s holdings in Chevron were worth $7,588,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of CVX. Worth Asset Management LLC acquired a new stake in shares of Chevron during the first quarter worth $36,000. Win Advisors Inc. raised its holdings in Chevron by 61.2% during the 2nd quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $46,000 after buying an additional 120 shares during the period. Joseph P. Lucia & Associates LLC lifted its stake in Chevron by 80.6% during the second quarter. Joseph P. Lucia & Associates LLC now owns 336 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 150 shares in the last quarter. Foster Dykema Cabot & Co. Inc. MA acquired a new position in shares of Chevron in the second quarter worth about $69,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Chevron in the second quarter worth approximately $72,000. Institutional investors own 69.37% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently commented on CVX. Raymond James raised their price objective on shares of Chevron from $188.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, October 31st. Jefferies Financial Group started coverage on Chevron in a report on Wednesday, October 19th. They set a “hold” rating on the stock. Citigroup increased their price objective on Chevron from $155.00 to $180.00 in a research note on Tuesday, November 22nd. HSBC lifted their target price on Chevron to $187.00 in a research note on Friday, December 2nd. Finally, StockNews.com assumed coverage on shares of Chevron in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $186.67.
Chevron Stock Down 0.1 %
Chevron (NYSE:CVX – Get Rating) last posted its earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $0.54. The business had revenue of $66.64 billion for the quarter, compared to analyst estimates of $61.44 billion. Chevron had a net margin of 14.36% and a return on equity of 22.36%. Chevron’s revenue was up 49.1% compared to the same quarter last year. During the same period last year, the business posted $2.96 EPS. Research analysts forecast that Chevron Co. will post 18.91 EPS for the current year.
Chevron Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, November 17th. Chevron’s dividend payout ratio is currently 32.31%.
Insider Transactions at Chevron
In related news, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $179.64, for a total value of $4,491,000.00. Following the completion of the sale, the chief financial officer now owns 8 shares in the company, valued at $1,437.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total value of $5,830,380.00. The disclosure for this sale can be found here. Insiders sold a total of 293,563 shares of company stock worth $53,186,421 over the last three months. 0.32% of the stock is currently owned by insiders.
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
- Get a free copy of the StockNews.com research report on Chevron (CVX)
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