Chevron Corporation $CVX Shares Purchased by Plan Group Financial LLC

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

Other hedge funds have also made changes to their positions in the company. Quaker Wealth Management LLC lifted its holdings in Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Chevron in the third quarter valued at $34,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares during the period. IMG Wealth Management Inc. grew its stake in Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares in the last quarter. Finally, Marquette Asset Management LLC purchased a new stake in Chevron during the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVX shares. Barclays lowered their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Wells Fargo & Company boosted their price target on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Sanford C. Bernstein raised their price objective on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Finally, UBS Group reissued a “buy” rating on shares of Chevron in a report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $167.14.

Chevron Trading Up 0.8%

Shares of Chevron stock opened at $163.66 on Wednesday. The company has a fifty day simple moving average of $152.68 and a 200-day simple moving average of $153.82. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a market cap of $329.53 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 10.20 and a beta of 0.70.

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

Chevron Announces Dividend

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

Insider Buying and Selling at Chevron

In related news, CFO Eimear P. Bonner sold 28,334 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $165.05, for a total value of $4,676,526.70. Following the completion of the sale, the chief financial officer owned 4,366 shares in the company, valued at $720,608.30. This represents a 86.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael K. Wirth sold 320,700 shares of the firm’s stock in a transaction on 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 in the company, valued at $2,355,205.50. The trade was a 95.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 631,990 shares of company stock valued at $99,716,808. Insiders own 0.20% of the company’s stock.

Chevron Profile

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.