NewFocus Financial Group LLC Purchases Shares of 1,738 Chevron Corporation (CVX)
NewFocus Financial Group LLC purchased a new stake in Chevron Corporation (NYSE:CVX) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,738 shares of the oil and gas company’s stock, valued at approximately $204,000.
Several other hedge funds and other institutional investors have also bought and sold shares of CVX. Brightworth bought a new stake in Chevron in the 3rd quarter valued at about $5,708,000. Conning Inc. lifted its position in Chevron by 15.3% in the 3rd quarter. Conning Inc. now owns 67,387 shares of the oil and gas company’s stock valued at $7,637,000 after purchasing an additional 8,930 shares during the last quarter. E&G Advisors LP lifted its position in Chevron by 41.1% in the 3rd quarter. E&G Advisors LP now owns 4,120 shares of the oil and gas company’s stock valued at $484,000 after purchasing an additional 1,200 shares during the last quarter. Gillespie Robinson & Grimm Inc. lifted its position in Chevron by 3.1% in the 3rd quarter. Gillespie Robinson & Grimm Inc. now owns 185,913 shares of the oil and gas company’s stock valued at $21,845,000 after purchasing an additional 5,640 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in Chevron by 9.4% in the 3rd quarter. JFS Wealth Advisors LLC now owns 8,738 shares of the oil and gas company’s stock valued at $1,027,000 after purchasing an additional 750 shares during the last quarter. 63.80% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on CVX. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research report on Thursday. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Wednesday, December 27th. Vetr upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $134.35 price objective on the stock in a research report on Tuesday, December 26th. Scotiabank reiterated a “buy” rating and issued a $130.00 price objective on shares of Chevron in a research report on Friday, December 22nd. Finally, Royal Bank of Canada set a $110.00 price objective on shares of Chevron and gave the company a “sell” rating in a research report on Wednesday, December 20th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $125.15.
Shares of Chevron Corporation (NYSE CVX) opened at $127.90 on Friday. Chevron Corporation has a 52-week low of $102.55 and a 52-week high of $128.94. The company has a market cap of $242,930.00, a PE ratio of 37.29, a price-to-earnings-growth ratio of 3.00 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $36.21 billion for 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%. Chevron’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. sell-side analysts anticipate that Chevron Corporation will post 4.33 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were paid a $1.08 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.38%. Chevron’s dividend payout ratio is currently 125.95%.
In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the transaction, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 17,981 shares in the company, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. Insiders sold a total of 314,000 shares of company stock worth $36,540,822 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.
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Chevron Company Profile
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.
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