Wsfs Capital Management LLC Has $2 Million Holdings in Chevron Co. (NYSE:CVX)

Wsfs Capital Management LLC lifted its holdings in Chevron Co. (NYSE:CVXGet Rating) by 2.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,925 shares of the oil and gas company’s stock after acquiring an additional 370 shares during the period. Chevron makes up approximately 0.7% of Wsfs Capital Management LLC’s investment portfolio, making the stock its 28th largest position. Wsfs Capital Management LLC’s holdings in Chevron were worth $2,001,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cantor Fitzgerald Investment Advisor L.P grew its stake in Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after buying an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC grew its stake in Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 1,476 shares in the last quarter. GQG Partners LLC grew its stake in Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after buying an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC grew its stake in Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares in the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVX. Jefferies Financial Group assumed coverage on shares of Chevron in a research note on Wednesday, October 19th. They set a “hold” rating on the stock. Raymond James raised their price target on shares of Chevron from $188.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, October 31st. Wells Fargo & Company raised their price target on shares of Chevron from $199.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, January 10th. BNP Paribas downgraded shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price target on the stock. in a research note on Wednesday, December 14th. Finally, Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and raised their price target for the company from $190.00 to $191.00 in a research note on Friday, January 6th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $186.67.

Insiders Place Their Bets

In other Chevron news, EVP James William Johnson sold 143,466 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $179.30, for a total transaction of $25,723,453.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP R. Hewitt Pate sold 32,391 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James William Johnson sold 143,466 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $179.30, for a total transaction of $25,723,453.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,563 shares of company stock worth $53,186,421. 0.32% of the stock is currently owned by insiders.

Chevron Stock Down 0.1 %

Chevron stock opened at $180.66 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 1.40. Chevron Co. has a 52-week low of $122.84 and a 52-week high of $189.68. The firm has a 50 day moving average price of $177.53 and a two-hundred day moving average price of $165.74. The firm has a market cap of $349.33 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 0.81 and a beta of 1.18.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.54. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The firm had revenue of $66.64 billion during the quarter, compared to analyst estimates of $61.44 billion. During the same quarter last year, the business earned $2.96 EPS. The company’s revenue was up 49.1% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 18.91 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were issued a dividend of $1.42 per share. The ex-dividend date was Thursday, November 17th. This represents a $5.68 annualized dividend and a yield of 3.14%. Chevron’s payout ratio is 32.31%.

About Chevron

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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