Chevron Corporation $CVX Shares Purchased by Canton Hathaway LLC

Canton Hathaway LLC increased its position in shares of Chevron Corporation (NYSE:CVX) by 336.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,961 shares of the oil and gas company’s stock after acquiring an additional 1,512 shares during the period. Canton Hathaway LLC’s holdings in Chevron were worth $281,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd increased its stake in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares in the last quarter. Elequin Capital LP purchased a new position in Chevron in the 1st quarter worth about $31,000. Quaker Wealth Management LLC increased its stake in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares in the last quarter. IMG Wealth Management Inc. increased its stake in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Chevron in the 1st quarter worth about $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

Chevron Stock Down 1.1%

Shares of Chevron stock opened at $153.36 on Friday. The firm has a market cap of $265.00 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 4.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a 50-day simple moving average of $156.08 and a 200-day simple moving average of $148.85.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same period in the previous year, the company earned $2.55 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CVX shares. Barclays dropped their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Mizuho decreased their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Wells Fargo & Company started coverage on Chevron in a research report on Friday, October 17th. They set an “overweight” rating and a $190.00 price objective for the company. Evercore ISI restated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Finally, Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $165.25.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.