Centerstone Investors LLC lessened its position in Chevron Co. (NYSE:CVX - Free Report) by 15.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,777 shares of the oil and gas company's stock after selling 4,800 shares during the period. Chevron accounts for about 3.5% of Centerstone Investors LLC's portfolio, making the stock its 10th biggest holding. Centerstone Investors LLC's holdings in Chevron were worth $3,796,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Rational Advisors LLC bought a new stake in Chevron in the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the third quarter worth $31,000. Finally, Anfield Capital Management LLC lifted its holdings in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after buying an additional 118 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on CVX. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, Wells Fargo & Company lifted their price target on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research report on Monday. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.13.
View Our Latest Report on CVX
Insider Transactions at Chevron
In other news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company's stock.
Chevron Price Performance
Shares of CVX stock traded down $1.49 on Thursday, reaching $154.72. The company's stock had a trading volume of 7,619,387 shares, compared to its average volume of 7,680,637. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock's 50 day simple moving average is $155.22 and its 200-day simple moving average is $152.44. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $278.05 billion, a P/E ratio of 16.99, a PEG ratio of 3.47 and a beta of 1.10.
Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron's quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $3.05 earnings per share. As a group, equities analysts predict that Chevron Co. will post 10.54 earnings per share for the current fiscal year.
Chevron Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.21%. The ex-dividend date was Monday, November 18th. Chevron's dividend payout ratio is currently 71.65%.
Chevron Profile
(Free Report)
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.
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