Middleton & Co Inc MA Grows Position in Chevron Co. (CVX)
Middleton & Co Inc MA increased its position in shares of Chevron Co. (NYSE:CVX) by 8.3% during the third quarter, HoldingsChannel.com reports. The fund owned 41,820 shares of the oil and gas company’s stock after acquiring an additional 3,217 shares during the quarter. Middleton & Co Inc MA’s holdings in Chevron were worth $4,914,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Concorde Asset Management LLC acquired a new stake in shares of Chevron during the third quarter valued at approximately $259,000. Foundry Partners LLC grew its position in Chevron by 36.8% during the third quarter. Foundry Partners LLC now owns 122,200 shares of the oil and gas company’s stock valued at $14,358,000 after purchasing an additional 32,900 shares in the last quarter. Villere ST Denis J & Co. LLC grew its position in Chevron by 2.7% during the third quarter. Villere ST Denis J & Co. LLC now owns 56,613 shares of the oil and gas company’s stock valued at $6,652,000 after purchasing an additional 1,465 shares in the last quarter. Palisade Capital Management LLC NJ grew its position in Chevron by 1.3% during the third quarter. Palisade Capital Management LLC NJ now owns 36,875 shares of the oil and gas company’s stock valued at $4,333,000 after purchasing an additional 485 shares in the last quarter. Finally, Artemis Investment Management LLP grew its position in Chevron by 1,436.8% during the third quarter. Artemis Investment Management LLP now owns 376,691 shares of the oil and gas company’s stock valued at $44,250,000 after purchasing an additional 352,180 shares in the last quarter. Institutional investors and hedge funds own 63.80% of the company’s stock.
Shares of Chevron Co. (CVX) opened at $127.84 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market cap of $242,820.00, a P/E ratio of 37.27, a price-to-earnings-growth ratio of 2.97 and a beta of 1.21. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $128.94.
Chevron (NYSE:CVX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. sell-side analysts predict that Chevron Co. will post 4.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Thursday, November 16th. Chevron’s dividend payout ratio is 125.95%.
CVX has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Citigroup boosted their price objective on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Wolfe Research raised shares of Chevron from a “market perform” rating to an “outperform” rating in a research report on Monday, October 16th. Finally, Scotiabank reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, September 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $125.15.
In related news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the sale, the insider now directly owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Patricia E. Yarrington sold 13,143 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The disclosure for this sale can be found here. Insiders sold 314,000 shares of company stock valued at $36,540,822 over the last three months. Insiders own 0.38% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Middleton & Co Inc MA Grows Position in Chevron Co. (CVX)” was first posted by Watch List News and is owned by of Watch List News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright law. The original version of this story can be viewed at https://www.watchlistnews.com/middleton-co-inc-ma-grows-position-in-chevron-co-cvx/1800697.html.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.