Cypress Capital Management LLC Has $6.74 Million Holdings in Chevron Co. (NYSE:CVX)

Cypress Capital Management LLC boosted its position in Chevron Co. (NYSE:CVXGet Rating) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,934 shares of the oil and gas company’s stock after buying an additional 293 shares during the quarter. Chevron makes up about 1.3% of Cypress Capital Management LLC’s holdings, making the stock its 25th biggest position. Cypress Capital Management LLC’s holdings in Chevron were worth $6,743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AMG National Trust Bank grew its position in Chevron by 29.8% in the 3rd quarter. AMG National Trust Bank now owns 52,819 shares of the oil and gas company’s stock worth $7,588,000 after purchasing an additional 12,132 shares during the last quarter. WESTERN FINANCIAL Corp grew its position in Chevron by 13.4% in the 3rd quarter. WESTERN FINANCIAL Corp now owns 3,657 shares of the oil and gas company’s stock worth $525,000 after purchasing an additional 433 shares during the last quarter. Alpha Cubed Investments LLC grew its position in Chevron by 44.3% in the 3rd quarter. Alpha Cubed Investments LLC now owns 30,852 shares of the oil and gas company’s stock worth $4,433,000 after purchasing an additional 9,468 shares during the last quarter. Ieq Capital LLC grew its position in Chevron by 16.1% in the 3rd quarter. Ieq Capital LLC now owns 68,976 shares of the oil and gas company’s stock worth $9,910,000 after purchasing an additional 9,546 shares during the last quarter. Finally, Caerus Investment Advisors LLC grew its position in Chevron by 19.9% in the 3rd quarter. Caerus Investment Advisors LLC now owns 3,011 shares of the oil and gas company’s stock worth $433,000 after purchasing an additional 500 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 0.1 %

Shares of CVX stock opened at $180.66 on Tuesday. Chevron Co. has a 12-month low of $122.84 and a 12-month high of $189.68. The company has a market capitalization of $349.33 billion, a P/E ratio of 10.28, a P/E/G ratio of 0.81 and a beta of 1.18. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $177.53 and a 200 day moving average price of $165.74.

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

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, November 17th. Chevron’s dividend payout ratio is presently 32.31%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVX shares. 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. Morgan Stanley lifted their target price on shares of Chevron from $193.00 to $196.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 19th. HSBC lifted their target price on shares of Chevron to $187.00 in a research report on Friday, December 2nd. Wells Fargo & Company lifted their target price on shares of Chevron from $199.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Finally, Citigroup lifted their target price on shares of Chevron from $155.00 to $180.00 in a research report on Tuesday, November 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $186.67.

Insiders Place Their Bets

In other Chevron news, EVP James William Johnson sold 143,466 shares of the business’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $179.30, for a total value of $25,723,453.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP James William Johnson sold 143,466 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $179.30, for a total transaction of $25,723,453.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael K. Wirth sold 55,380 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $185.09, for a total transaction of $10,250,284.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 293,563 shares of company stock valued at $53,186,421. Insiders own 0.32% of the company’s stock.

Chevron Company Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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