Andesa Financial Management Inc. Acquires 4,510 Shares of Chevron Co. (NYSE:CVX)

Andesa Financial Management Inc. grew its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 49.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,634 shares of the oil and gas company’s stock after purchasing an additional 4,510 shares during the quarter. Andesa Financial Management Inc.’s holdings in Chevron were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Worth Asset Management LLC acquired a new position in Chevron in the 1st quarter valued at $36,000. Win Advisors Inc. grew its stake in Chevron by 61.2% in the 2nd quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 120 shares during the last quarter. Joseph P. Lucia & Associates LLC grew its stake in Chevron by 80.6% in the 2nd 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 during the last quarter. Foster Dykema Cabot & Co. Inc. MA acquired a new position in Chevron in the 2nd quarter valued at $69,000. Finally, Goodman Advisory Group LLC acquired a new position in Chevron in the 2nd quarter valued at $72,000. Institutional investors own 69.37% of the company’s stock.

Insider Activity at Chevron

In related news, VP R. Hewitt Pate sold 32,391 shares of Chevron stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other Chevron news, CEO Michael K. Wirth sold 55,380 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $185.09, for a total value of $10,250,284.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $180.00, for a total transaction of $5,830,380.00. The disclosure for this sale can be found here. Insiders sold 293,563 shares of company stock valued at $53,186,421 in the last ninety days. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVX. BNP Paribas lowered shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 target price on the stock. in a research note on Wednesday, December 14th. StockNews.com assumed coverage on shares of Chevron in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Cowen raised their price target on shares of Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and raised their price target for the stock from $190.00 to $191.00 in a research report on Friday, January 6th. Finally, Morgan Stanley raised their price target on shares of Chevron from $193.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $186.67.

Chevron Price Performance

Shares of Chevron stock opened at $180.66 on Tuesday. Chevron Co. has a twelve month low of $122.84 and a twelve month high of $189.68. The firm has a market cap of $349.33 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.81 and a beta of 1.18. The firm’s 50-day simple moving average is $177.53 and its 200-day simple moving average is $165.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 1.40.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.54. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The firm had revenue of $66.64 billion during the quarter, compared to the consensus estimate of $61.44 billion. During the same period last year, the firm posted $2.96 EPS. The firm’s quarterly revenue was up 49.1% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 18.91 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 12th. Investors of record on Friday, November 18th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.14%. The ex-dividend date was Thursday, November 17th. Chevron’s dividend payout ratio is currently 32.31%.

About Chevron

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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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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