Chevron Corporation $CVX Shares Purchased by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. raised its position in Chevron Corporation (NYSE:CVX) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 259,243 shares of the oil and gas company’s stock after acquiring an additional 3,454 shares during the quarter. Chevron comprises about 1.4% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 28th biggest position. ZWJ Investment Counsel Inc.’s holdings in Chevron were worth $40,258,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new position in shares of Chevron during the 1st quarter worth approximately $82,000. Truvestments Capital LLC grew its holdings in Chevron by 106.6% during the 1st quarter. Truvestments Capital LLC now owns 2,173 shares of the oil and gas company’s stock valued at $364,000 after buying an additional 1,121 shares during the last quarter. Northstar Financial Companies Inc. increased its position in Chevron by 12.5% during the first quarter. Northstar Financial Companies Inc. now owns 10,540 shares of the oil and gas company’s stock worth $1,763,000 after buying an additional 1,168 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its position in Chevron by 13.4% during the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 5,516 shares of the oil and gas company’s stock worth $923,000 after buying an additional 651 shares in the last quarter. Finally, TD Capital Management LLC raised its holdings in shares of Chevron by 12.2% in the first quarter. TD Capital Management LLC now owns 1,070 shares of the oil and gas company’s stock worth $179,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $150.50 on Friday. The company has a market cap of $303.03 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 9.03 and a beta of 0.68. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The stock’s 50-day moving average is $152.18 and its 200-day moving average is $152.70.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. HSBC set a $169.00 price objective on Chevron and gave the stock a “buy” rating in a research report on Monday, December 1st. Wells Fargo & Company lifted 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. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Mizuho raised their target price on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Morgan Stanley boosted their price target on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $166.00.

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.