Chevron Corporation $CVX Shares Sold by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. lessened its stake in Chevron Corporation (NYSE:CVX) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,566 shares of the oil and gas company’s stock after selling 3,389 shares during the quarter. Chevron accounts for about 1.9% of Global Wealth Management Investment Advisory Inc.’s investment portfolio, making the stock its 11th biggest holding. Global Wealth Management Investment Advisory Inc.’s holdings in Chevron were worth $15,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Chevron in the 2nd quarter valued at $25,663,729,000. Bank of New York Mellon Corp acquired a new position in Chevron in the 2nd quarter worth $2,378,114,000. Legal & General Group Plc acquired a new position in Chevron in the 2nd quarter worth $1,462,412,000. Deutsche Bank AG acquired a new position in Chevron in the 2nd quarter worth $1,189,577,000. Finally, State Street Corp increased its holdings in Chevron by 3.9% during the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after purchasing an additional 5,998,852 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael Wirth sold 317,100 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew Walz sold 16,800 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 379,470 shares of company stock valued at $77,216,415 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock opened at $210.91 on Tuesday. The company’s fifty day simple moving average is $215.09 and its 200-day simple moving average is $194.63. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The firm has a market cap of $416.71 billion, a PE ratio of 15.43, a P/E/G ratio of 0.51 and a beta of 0.47. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $236.48.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.87 by $0.41. The business had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The firm’s revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.85 earnings per share. Equities research analysts expect that Chevron Corporation will post 18.56 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 annualized dividend and a yield of 3.4%. Chevron’s payout ratio is 52.08%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $240.00 price target on the stock. in a report on Tuesday, November 3rd. Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. HSBC set a $90.00 price objective on Chevron in a report on Friday, September 25th. Finally, Barclays increased their price objective on Chevron from $208.00 to $244.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $221.88.

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.